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Ten Steps You Must Take Before You Sell Your
Home
( page 2 )
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Estimate Your Costs to Sell |
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Real estate commission if
you use an agency to sell. |
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Advertising costs, signs,
other fees if you plan to sell by owner.
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Attorney, closing agent
and other professional fees. |
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Excise tax for the sale. |
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Prorated costs for your
share of annual expenses, such as property
taxes, home owner association fees, and fuel
tank rentals. |
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Any other fees typically
paid by the seller in your area (surveys,
inspections, etc.). |
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Real estate agents deal
with transactions every day and can give you a
very close estimate of seller closing costs. |
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Determine Your Costs to Acquire a New Home |
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Total your
costs to acquire a new home: moving
expenses, loan costs, down payment, home
inspections, title work and policy, paying
for a new hazard insurance policy--all
expenses related to buying a home. Your
lender should give you a disclosure of
estimated costs when you apply for
pre-approval. |
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Calculate Your Estimated Proceeds |
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Deduct your mortgage payoff from
your home's fair market value. |
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Deduct your costs to sell from the
remainder to get an estimate of the
proceeds you will be paid at
closing. |
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Will your
closing proceeds cover your costs to acquire
a new home? If not, do you have cash or
other funding to make up the difference? |
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