Sell your own home in six easy steps.
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Manual calculation to estimate net proceeds from the sale of your home are described below  (skip to our net cash calculator to have the math done automatically for as many times as you'd like).
Start with the purchase price, and subtract amounts you will have to pay at or before the closing. These amounts are grouped below as:
    - Known Costs
    - Estimated Closing Costs
    - Other Potential costs
On the right, are typical amounts based on a $100,000 house.
Start with the estimated sales price:

$100,000
Known Costs. These are, by far, the largest costs.   Your mortgage holder can tell you the amount needed to pay off the mortgage, plus any prepayment penalty.
Amount to pay off present mortgage $81,000  
Real estate commissions 3,500  
Prepayment penalty on mortgage  (if any): 0  
Unpaid property taxes  (if any): 0  
      Subtotal $84,500 -84,500
Estimated Closing Costs. The following fees are often paid by the Seller at Closing.  A good estimate for this group is 1% to 1.5% of the purchase price.
  Attorney fees $350  
  Buyer's mortgage fees: 900  
  Title insurance premium: 50  
  Transfer taxes: 0  
  Survey fees: 150  
       Subtotal: $1,450 -1,450
Other Potential Costs:  
  Buyer's Home Warranty: $0  
  Homeowner Association fees: 0  
  Repairs for termite or roof damage: 0  
  Recording fees: 110  
       Subtotal: $110 -110
Net to Seller: $13,940

 

Definitions & Clarifications
  • Amount to pay off present mortgage:  Call your lender for the outstanding balance.
  • Your lender will tell you if there is a pre-payment penalty for paying off your mortgage early.
  • Real estate commission would be zero if you sold your home yourself, or as high as $7,000 if you listed your home with a full-service agent.  Our estimate of $3,500 assumes:
    • You advertised the house yourself.
    • A real estate agent brought you a buyer.
    • You agreed to pay the agent 3.5% of the selling price
  • Unpaid Property Taxes depends on the time of year, and the date of the last tax payment. The full year's property tax is prorated so that the buyer pays taxes for the months he has title to the property. The seller must pay taxes for the months prior to transfer of the title.
  • Buyer's mortgage fee:   This is typically 1% to 1.5% of the new mortgage amount, but can be higher. Many seller's limit this amount by writing the maximum they will pay into the sales contract (under special clauses).

 

 For sale by owner book
Complete For Sale By Owner Kit $58.95

Includes contract package plus photo tour packages below. Also property flyers in two styles, a for sale by owner yard sign with stand and a directional sign. Internet listing will remain active until home is sold.
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Contract Package $14.20

Real estate forms & contracts to legally sell or buy a home. Designed to meet individual state requirements, our contracts have been used to sell homes in every state. Download them in Microsoft Word format for Windows & Mac. Most also available in PDF.
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Photo Tour Package $26.95

Internet web page ad with up to ten pictures of home plus property description and choice of 28 eye-catching headlines. Also includes choice of two flyers for local distribution.
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Don't have time? Can't devote 4 hours per week to selling your home?

Consider hiring a good real estate agent and paying 6%-7% or about $9,000 to sell a $150,000 property.