Make sure to plan for the expenses involved in selling a property in order to properly assess the net proceeds of the sale. The main expenses will be:
Real estate broker's commission:The agreed-upon compensation will be deducted from the sale amount (this amount is taxable).
Professional evaluation (if necessary):I can complete a CMA (Comparative Market Analysis) for you at no additional cost, but you can pay for a professional evaluation of your property if you prefer.
Mortgage prepayment and payoff charges:Your mortgage lender may charge penalties for payment before maturity or mortgage discharge fees.
Property tax adjustments:As the seller, you have an obligation to pay any unpaid property taxes as of the date of the sale.
- Moving/storage expenses.