Seller Proceeds Calculator

Seller Proceeds Calculator

function calculateSellerProceeds() { var salePrice = parseFloat(document.getElementById('salePrice').value); var mortgageBalance = parseFloat(document.getElementById('mortgageBalance').value); var commissionRate = parseFloat(document.getElementById('commissionRate').value); var sellerClosingCosts = parseFloat(document.getElementById('sellerClosingCosts').value); var propertyTaxesDue = parseFloat(document.getElementById('propertyTaxesDue').value); var otherExpenses = parseFloat(document.getElementById('otherExpenses').value); if (isNaN(salePrice) || isNaN(mortgageBalance) || isNaN(commissionRate) || isNaN(sellerClosingCosts) || isNaN(propertyTaxesDue) || isNaN(otherExpenses)) { document.getElementById('netProceedsDisplay').innerHTML = "Please enter valid numbers for all fields."; document.getElementById('commissionAmountDisplay').innerHTML = ""; document.getElementById('totalCostsDisplay').innerHTML = ""; return; } // Ensure non-negative values for costs salePrice = Math.max(0, salePrice); mortgageBalance = Math.max(0, mortgageBalance); commissionRate = Math.max(0, commissionRate); sellerClosingCosts = Math.max(0, sellerClosingCosts); propertyTaxesDue = Math.max(0, propertyTaxesDue); otherExpenses = Math.max(0, otherExpenses); var commissionAmount = salePrice * (commissionRate / 100); var totalSellerCosts = mortgageBalance + commissionAmount + sellerClosingCosts + propertyTaxesDue + otherExpenses; var netSellerProceeds = salePrice – totalSellerCosts; document.getElementById('commissionAmountDisplay').innerHTML = "Real Estate Agent Commission: $" + commissionAmount.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('totalCostsDisplay').innerHTML = "Total Seller Costs: $" + totalSellerCosts.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('netProceedsDisplay').innerHTML = "Estimated Net Seller Proceeds: $" + netSellerProceeds.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}) + ""; } // Calculate on page load with default values window.onload = calculateSellerProceeds;

Understanding Your Seller Proceeds

Selling a home is a significant financial transaction, and while the sale price might seem like the most important number, what truly matters is your "net seller proceeds" – the actual cash you walk away with after all expenses are paid. This calculator helps you estimate that crucial figure by factoring in the various costs associated with selling a property.

What Are Seller Proceeds?

Seller proceeds refer to the amount of money a home seller receives from the sale of their property after all deductions, such as outstanding mortgage balances, real estate agent commissions, closing costs, and other fees, have been subtracted from the final sale price. It's the net profit or cash received by the seller.

Key Factors Affecting Your Proceeds:

• Sale Price: This is the starting point. The higher your agreed-upon sale price, the greater your potential proceeds.
• Outstanding Mortgage Balance: If you have a mortgage on the property, the remaining balance must be paid off at closing. This is often the largest deduction from your sale price.
• Real Estate Agent Commission: Typically, the seller pays the commission for both their agent and the buyer's agent. This is usually a percentage of the sale price (e.g., 5-6%).
• Seller's Closing Costs: These can include various fees such as title insurance (owner's policy), attorney fees, transfer taxes, recording fees, and escrow fees. These costs vary significantly by location and transaction specifics.
• Prorated Property Taxes: Property taxes are usually paid in arrears or in advance. At closing, taxes are prorated, meaning you'll pay your share of the taxes up to the closing date.
• Other Seller Expenses: This category can include a variety of costs such as repair credits given to the buyer, HOA fees due, home warranty costs, or any other agreed-upon concessions.

How to Use the Calculator:

Simply input the relevant financial details into the fields above:

1. Sale Price: Enter the agreed-upon price for your home.
2. Outstanding Mortgage Balance: Provide the current balance of your mortgage.
3. Real Estate Agent Commission Rate (%): Input the percentage your agent charges (e.g., 5 for 5%).
4. Seller's Closing Costs: Estimate or input the total amount of closing costs you expect to pay.
5. Prorated Property Taxes Due: Enter any property taxes you anticipate owing at closing.
6. Other Seller Expenses: Include any additional costs or credits you're responsible for.

Click "Calculate Proceeds" to see an estimate of your agent commission, total seller costs, and your final net proceeds.

Example Calculation:

Let's say you sell your home for $400,000. You have an outstanding mortgage balance of $250,000. Your real estate agent charges a 5% commission. You estimate your seller's closing costs to be $8,000, prorated property taxes due are $1,500, and you've agreed to $1,000 in other expenses (e.g., a repair credit).

• Sale Price: $400,000
• Mortgage Balance: $250,000
• Agent Commission (5% of $400,000): $20,000
• Seller's Closing Costs: $8,000
• Prorated Property Taxes: $1,500
• Other Expenses: $1,000

Total Seller Costs: $250,000 (Mortgage) + $20,000 (Commission) + $8,000 (Closing Costs) + $1,500 (Taxes) + $1,000 (Other) = $280,500

Net Seller Proceeds: $400,000 (Sale Price) – $280,500 (Total Costs) = $119,500

This calculator provides a valuable estimate, but always consult with your real estate agent, attorney, or financial advisor for precise figures and personalized advice regarding your specific home sale.