To note, when you sell a home, you will also have to pay interest on your outstanding mortgage balance from the date of your last payment until the time of the sale. You are also liable for property taxes and possible additional expenses up until the day you sell the home.
Proceeds from Sale of a Home
Proceeds from Sale of a Home
Sale Price |
Payment Obligations |
Seller Proceeds |
|---|---|---|
| $ 250,000 | $ 199,990 | $ 50,009 |
| Mortgage Payoff | $ 175,000 |
|---|---|
| Interest Paid | $ 211 |
| Realtor Commission | $ 15,000 |
| Property Taxes | $ 6,528 |
| Transfer Taxes | $ 2,500 |
| Closing Fees | $ 750 |
| Seller Proceeds | $ 50,009 |
