Net proceeds


What You'll Net at Closing

 

To find out how much money you'll net from your house, add up your closing costs and subtract them from the sale price of the house.   You should do this when you set the price and after you get an offer that way you will know roughly what your bottom line is.

What are your closing costs

Mortgage payoff                                    ____________
Pro-rations for taxes                              ____________
Pro-rations for association dues             ____________
Water escrow                                       ____________
Owners title policy                                ____________
Closing fee from title company              ____________
Home inspection fees                            ____________
Well & septic inspection fees                ____________
Home warranty                                    ____________
Real estate commision                          ____________
State Transfer tax                                 ____________
Closing cost concessions                      ____________



Total                                                   ____________ 

Sale price - total = net proceeds.

This will give you an idea of what you will walk away with from your sale of your Oakland County home, Wayne County home, Livingston County home.  Then you will know what you can put down when buying your new Michigan home