Updated
1. Get a sale-price range for the home as it sits
Use nearby sales of homes with similar condition, size and features. If your house needs work, start with an as-is estimate before budgeting for repairs. Run a conservative scenario first, then see what changes at a stronger price.
2. Ask for your mortgage payoff
Ask your mortgage servicer for a payoff quote through an expected closing date. Check for a second mortgage, home equity line or other liens with your settlement provider and include any amounts that would have to be paid at closing.
3. Estimate selling costs and your move
Ask for an itemized estimate that includes negotiated brokerage compensation, your share of transfer taxes, settlement charges, possible buyer credits and any repairs or clean-out you plan to pay for. Confirm the property's municipality with your settlement provider. Budget separately for moving and your next housing payment or deposit.
See how much the price changes what you keep
Suppose a sale at $230,000 has $190,000 in payoffs and $18,000 in selling costs. That leaves about $22,000 before moving costs and any income taxes. If the price comes in at $215,000 with the same assumed payoffs and costs, the estimate drops to $7,000. Use your own numbers in the calculator and adjust the costs for each scenario.
Run your numbers
Common questions
What if the estimate is close to zero or negative?
Confirm the payoff and ask for an itemized estimate from your settlement provider before committing. Compare the estimated shortfall with cash you have available and ask your servicer what options you can discuss if the sale would leave a balance.
Can I work through the numbers before I decide to sell?
Yes. You can use the calculator without signing up, or ask Jacob to help estimate a local price range and compare options. Keep loan statements and account numbers out of the website form.