 More important than the price you sell your home for is the actual net
you receive from the transaction. A higher sales price doesn't necessarily mean a
higher net. For example, a contract that offers your list price but requires you to
pay a couple of points (percent) of the buyer's loan may not be as good as a contract that
offers less than the price your asking but doesn't require that you pay any points.
So don't focus on the sales price...
Focus on the bottom line!To estimate what you will actually receive
from the sale of your home, from the sales price you need to subtract the outstanding
balance of your mortgage(s) and the settlement fees such as the sales commission, attorney
fees, transfer taxes paid to the state, and other fees. These fees vary jurisdiction
to jurisdiction, but are generally in the range of 2-5% of the sales price plus the
sales commission paid to your real estate agent.
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