- SELLING RESOURCES -
RESOURCES FOR:
Before deciding on a sale price, it helps to understand the financial side of selling. Knowing what you still owe on your home, the costs that may come out of the sale, and how much you hope to walk away with will help you make better decisions throughout the process.
Start with an estimate of your current mortgage payoff amount. This is the amount that will generally need to be paid to your lender when the home is sold.
Your current loan balance can give you a good starting point, although the final payoff amount may be slightly different because of interest and other adjustments through the closing date.
Most selling expenses are paid from the proceeds of the sale at closing rather than being paid separately in advance. However, you still need enough sale proceeds to pay off your mortgage and cover the costs associated with the transaction.
YELLOW SAYS...
One of the largest traditional costs of selling a home can be real estate brokerage fees.
With YELLOW, you do not pay a traditional listing-agent commission. A buyer may still request that the seller contribute toward the buyer's brokerage costs or other closing expenses, and you can evaluate that request as part of the offer.
Other normal closing expenses still apply, and that can be anywhere from 2-6% of the sale price. It is important to estimate those costs when deciding what sale price works for you.
COMMON SELLER EXPENSES
ADDITIONAL RESOURCES
ESTIMATE WHAT YOU'LL WALK AWAY WITH
A simple way to estimate your proceeds is to start with the expected sale price and subtract what you still owe along with the estimated costs of the sale.
We've created a spreadsheet you can use to estimate your sale proceeds:
You can also use the Florida seller closing-cost calculator below for another estimate:
You don't need every document before you begin, but gathering what you already have can make the listing and closing process easier. Useful documents may include:
The title and closing company will research ownership and title as part of the transaction. Before listing, however, think about anything that could complicate the transfer of the property, such as unpaid liens, judgments, probate matters, ownership disputes, divorce-related issues, or another person or entity appearing on the title.
If you're aware of an issue, dealing with it early can help prevent a surprise or delay as closing approaches.
There isn't one perfect month to sell every home. Buyer activity can change with the season, interest rates, local inventory, school schedules, and conditions in your particular market.
Spring is traditionally an active selling season in many markets, but the best time to sell is ultimately when the market and your own moving plans line up.
If you have flexibility, look at recent activity in your area before choosing a listing date. YELLOW's pricing and comparable-home information can help you see what is happening around your property.
Before offers begin arriving, think about your priorities. Price matters, but so can the closing date, financing, inspection terms, requested credits, and the amount of certainty an offer provides.
Decide which items are flexible and which are especially important to you. Having those priorities in mind makes it easier to compare offers and negotiate when the time comes.
