How much net will you get after selling your home?

The house is one of the largest financial assets for the family sector, so any decision made regarding the process of selling the house, for any reason, such as buying another house, paying certain dues, or financing university education for children, must be carefully studied, be able to determine the final value resulting from its sale and calculate all other costs associated with selling the house.

The most important thing to do when you want to sell your own home is to determine the price of the house accurately through credible real estate companies or through special websites over the Internet that estimate the market value of the house according to many factors related to the specifications of the house, its location, and so on.

After that, all the costs of selling the house are counted and subtracted from the market value of the house to know the net value that will be obtained after the completion of the sale process, the most important of which are the costs of the sale process:

Costs of a real estate agent or expert

To ensure that you get an appropriate price that simulates prices in the real estate market, it is necessary to seek the help of real estate specialists, such as dealing with a real estate company with extensive experience that can be trusted to take responsibility for the sale process and reach the price that meets your expectations and desires.

Here, you incur some costs related to the real estate agent as compensation for his services throughout searching for the right customer who achieves a fair sale for you at the price you want. These amounts should be taken into account as expenses that must be subtracted from the total value obtained after the sale of the house.

Costs of home preparation and fit-out

If you want to maximize the chance of selling your home within a short period and make a profitable deal at the price you want, then you should do some repairs and equipment to your home that lead to an increase in the number of people who want it, such as repainting it or repairing some of the main things that are broken inside the house.

Therefore, it is necessary to allocate a specific budget for all these expenses, and take it into account when calculating the net amount resulting from the sale of your home, and thus determine the final value that you will receive after the sale accurately.

Transportation costs

If you want to sell your home and move to another home, you must consider the costs involved in moving your household supplies from the house you sold to the house you will settle in. Transportation expenses vary according to the size of your items, in addition to the long distance between your old house and the house you want to settle in, as the greater the distance, the higher the expenses.

Therefore, when you sell your home, you should add those transportation amounts to the expenses that should be subtracted from the total value to get the net value of the house.

Mortgage Installment Costs

If you are paying the installments of the loan for the property in addition to the interest incurred, you must consider paying all these installments and paying the interest on them after you sell your home. The market value of your home is often higher than the value of your loan, so you will have a good chance of profit when selling.

These costs should also be added to the costs that should be deducted from the total market value you received from selling the home, and thus get the net amount at the final value.

Costs of home sale procedures

The process of selling your home entails some outstanding costs, which cannot be finalized before it is completed. The most important of these costs are insurance expenses, transfer tax expenses, and taxes due on the house, in addition to the fees of the lawyer or law firm that was dealt with to conduct the sales contract and complete the transaction legally and safely.

Also, these expenses are usually counted as expenses that are deducted from the total value of the house, and then the net value of the sale of your home is estimated.

Therefore, when estimating the market value of the home that you want to sell, you must take into account the net value of the house, that is, after deducting all types of costs resulting from the sale process from the total value of the house, to calculate the amount you will receive accurately.