1. What Is The Zillow Home Sale Calculator?

The Zillow Home Sale Calculator helps homeowners estimate their net proceeds from selling a property by accounting for sale price, fees, and mortgage payoff amounts.

2. How Does The Calculator Work?

The calculator uses a simple formula:

Where:

• Sale Price — The final selling price of your home
• Fees — All associated selling costs (agent commissions, closing costs, etc.)
• Mortgage Payoff — The remaining balance on your mortgage

Explanation: This calculation provides a realistic estimate of how much money you'll actually receive after selling your home.

3. Importance Of Calculating Net Proceeds

Details: Understanding your net proceeds helps with financial planning, determining if you can afford your next home, and making informed decisions about when to sell your property.

4. Using The Calculator

Tips: Enter the expected sale price based on Zillow estimates or comparable sales, include all anticipated fees, and know your current mortgage payoff amount. All values must be in USD.

5. Frequently Asked Questions (FAQ)

Q1: How Accurate Is Zillow's Estimate?
A: Zillow's Zestimate is a starting point but may not reflect your home's exact market value. Consult a real estate professional for a more accurate assessment.

Q2: What Fees Should I Include?
A: Typical fees include real estate agent commissions (5-6%), closing costs (2-5%), transfer taxes, and any seller concessions.

Q3: How Do I Find My Mortgage Payoff Amount?
A: Contact your mortgage lender for a payoff quote, which may be slightly different from your current balance due to accrued interest.

Q4: Are There Other Deductions To Consider?
A: Yes, you might also need to account for repair credits, unpaid property taxes, or other liens against the property.

Q5: Is This Calculation Final?
A: This is an estimate. Actual proceeds may vary based on final negotiations, unexpected fees, or changes in the mortgage payoff amount.