Home Selling Calculator

What this calculator does

This Home Selling Calculator estimates how much money you will walk away with after selling your home. The sale price is not the amount you keep: your remaining mortgage must be paid off, and selling costs such as agent commission, closing costs and any other fees are taken from the proceeds. Enter those figures below and the calculator works out your total selling costs and your net proceeds in seconds.

How to use this calculator

1. Enter your home sale price in dollars.
2. Enter your remaining mortgage balance in dollars. This is the amount still owed to your lender.
3. Enter the agent commission as a percentage. It is set to 6% by default, but you can change it to match your agreement.
4. Enter closing costs as a percentage. This is set to 2% by default.
5. Enter any other fees or repair costs in dollars, or leave it at 0 if there are none.
6. Click Calculate to see the cost breakdown and your net proceeds. Click Reset to clear the fields.

How selling costs work

Agent commission

Agent commission is usually charged as a percentage of the sale price and is often shared between the seller’s agent and the buyer’s agent. For example, 6% of a $400,000 sale is $24,000.

Closing costs

Closing costs cover items such as title fees, transfer taxes, recording fees and other charges paid when the sale completes. They are often estimated as a percentage of the sale price. For example, 2% of a $400,000 sale is $8,000.

Mortgage payoff

When you sell, the remaining balance on your mortgage is normally paid off from the sale proceeds before you receive anything. If you owe more than the home sells for, you will not have positive net proceeds, so it is important to check this figure carefully.

Worked example

Suppose you sell your home for $400,000 and still owe $250,000 on your mortgage. With agent commission of 6% and closing costs of 2%, and no other fees:

Agent commission: 6% of $400,000 = $24,000
Closing costs: 2% of $400,000 = $8,000
Other fees: $0
Total selling costs: $24,000 + $8,000 + $0 = $32,000

Net proceeds = $400,000 – $250,000 – $24,000 – $8,000 – $0 = $118,000

Enter the same figures in the calculator above and you will see total selling costs of $32,000.00 and net proceeds of $118,000.00.

Tips to increase net proceeds

• Compare agent commission rates and services before you agree to a listing, rather than accepting the first figure offered.
• Ask for a clear estimate of closing costs early, so there are no surprises at completion.
• Fix small, visible repairs that could put buyers off or lead to lower offers, but avoid expensive work that is unlikely to add the same value back.
• Present the home well and price it realistically: a home priced too high can sit unsold, while a well-priced home can attract stronger offers.
• Check your mortgage payoff figure, including any early repayment charges, before you set your asking price.

Frequently asked questions

Does the sale price equal the amount I keep?

No. Your mortgage balance and selling costs are paid from the sale price first. Net proceeds are what remains after those amounts are deducted.

What if I have no mortgage?

Enter 0 for the remaining mortgage balance. Your net proceeds will then be the sale price minus commission, closing costs and other fees.

Are commission and closing costs always 6% and 2%?

No, these are common starting points and are set as defaults in this calculator. Your actual rates depend on your agent agreement, your location and the details of the sale, so change them to match your own figures.

Can net proceeds be negative?

Yes. If your mortgage balance plus selling costs are more than the sale price, the result will be negative, which means the sale would not cover what you owe. In that case, speak to your lender and get professional advice before proceeding.

Disclaimer

This calculator provides estimates only and is not financial or legal advice. Actual commission, closing costs, taxes and mortgage payoff amounts vary by location, lender and sale agreement. Always confirm the final figures with your estate agent, lender and solicitor or conveyancer before making decisions.