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HOW DO YOU CALCULATE YOUR NET PROCEEDS?

Once you've been given an estimate of market value, you can get a rough idea of how much cash you might walk away with when the sale is completed. This can be particularly useful as you start looking for another home to buy. From the estimated sales price, subtract:

• Payoff figure on your present loan(s)

• Broker's commission

• Any prepayment penalty on your mortgage

• Attorney's fees, if any

• Unpaid property taxes

In addition, I can tell you whether local customs or rules expects the buyer or seller to pay for the following items:

• Title insurance premium

• Transfer taxes

• Survey fees

• Inspections and repairs for termites and the like

• Recording fees

• Homeowner Association transfer fees and document preparation

• Home protection plan

• Natural hazard disclosure report

As far as closing costs are concerned, you and your eventual buyer may agree on any arrangement that suits you, no matter what local practice dictates. Your REALTOR® will assist you in estimating what your final closing costs will be. It is difficult to predict what the exact closing costs will be when you negotiate with a particular buyer.