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Estimating Home Sale Net Proceeds [Home Sale Calculator]

When deciding to sell your home, the biggest question you’ll be asking is: “How much will I make if I sell my house?” Whether you are interested in how much you would profit from selling your home in Hampton Roads, or your property is already listed and has received multiple offers, this post will take you through the steps to accurately estimate your net proceeds using our Home Sale Proceeds Calculator.


Click here to download our easy to use excel or google sheets tool and follow along with the steps in blue.


Step 1: Determine the purchase price

To begin estimating your net proceeds from selling a home, you must first start with an estimated sales price. The most accurate way to predict the value or sales price of your home is to have a licensed real estate professional complete a comparative market analysis on your behalf. However, if you are looking for a quick estimate or are not quite ready to talk to an agent, apps like Homesnap can serve as a substitute for quick analysis of your home’s value.


Or you may already have multiple offers on your home, in which case use a multiple offer seller net sheet or home sale proceeds calculator that allows you to compare the offers side-by-side.

Based on information provided by a comparative market analysis or a buyer’s offer, enter your home’s predicted purchase price.

Start by entering the estimated sales price in CGP Real Estate's Home Sale Calculator to begin estimating your net proceeds from selling your home.

If you have multiple offers or want to compare different potential scenarios, enter them into parallel columns to compare potential profits.


Step 2: Calculate the expenses

When selling your home, several additional expenses will affect your final net payout. Here are some of the most common expenses you may come across when selling your home:


Pre-listing expenses:

Prior to listing you may consider making some minor improvements to increase the value of your home. It’s important to be strategic with the amount of money you spend on pre-listing expenses.

  • Renovations: Make sure the increase in added home value from a potential renovation far exceeds the cost. In some cases, it may make more sense to leave that dated bathroom as-is.

  • Listing photos: Many real estate professionals, like CGP Real Estate, provide professional listing photography to homeowners at no cost. If you are going the for-sale-by-owner route, professional photos can range from $125 for a basic photo package to $500+ for photos, aerial shots, and 3D virtual walk-through tours.

  • Cleaning/Storage/Other: Decluttering and cleaning your home can have a significant impact on how much your home sells for - and how quickly it will sell. Be sure to budget these items into estimated net calculations.

Determine how much money to spend on renovating before selling your home in order to maximize your profit from selling your home in Hampton Roads.

Contract expenses:

Depending on the type of property you own and the offer you accept, several additional expenses may come out of your bottom line on closing day.

  • Condo/HOA/POA resale package: If your property is located within a condominium, homeowners, or property owners association, you will be required to provide your future buyer with a resale package. Depending on your association, this package can cost anywhere between $200-500, typically paid at closing.

  • Inspection costs: If your agreement is contingent on any type of inspections that you said you’d pay for, like a moisture or termite inspection, these costs will affect your bottom line as well.

  • Concessions: It’s possible that the buyers will negotiate some repairs needed on the house - which they may either ask you to complete or reduce the sales price so they can have them done.

  • If you’re already deciding between multiple offers, enter the concessions you know about now. If you haven’t listed yet, it can be helpful to consider any part of your property that a buyer may want updated or fixed and estimate a cost for that here.

  • Commissions: How much commission you will owe to real estate professionals helping you sell your home and who will pay that commission will be negotiated prior to listing the home. Commonly, sellers will cover commission costs for both their agent and the buyer’s.

  • Enter the pre-negotiated fees on the commissions line of your expenses. If you haven’t chosen a real estate professional to work with yet, a good bet is to estimate paying 4-6% of the purchase price in commissions.

Contract expenses like buyer concessions, inspection costs, and commissions should be taken into account when estimating seller net proceeds from a home sale.

Note: Many expenses like concessions and inspection costs can be difficult to predict without an actual offer in hand. If you want to set an ideal goal for your net profit, feel free to leave these blank.


Prorations and Adjustments:

Depending on how your local taxes and condo dues are paid, you may be due a refund or need to cover a portion of the taxes/condo dues for the remaining time period you own the home. If you have pre-paid your taxes or condo dues, they will be prorated and credited back to you at closing.


Closing costs:

Unless otherwise stated in the Purchase Agreement, the seller pays for their own closing costs and the buyer pays for theirs. Here are a few costs the typical seller will encounter as a part of closing:

  • Title Search: If you’re selling a home, the buyer’s lender will likely require you to guarantee a free and clear title to the property - showing you fully own the property and have the right to convey the title to someone else. A clean title also means that there are no judgements or liens against the property that a creditor could come after a new owner for. Sellers pay for a title search to confirm their legal ownership and right to sell the property. (In Hampton Roads, a title search typically costs $85-100.)

  • Settlement Fees: When selling your property, you will work with a closing or settlement company to prepare all the paperwork needed to close the deal. The most common types of settlement companies are title companies and real estate lawyers. (The average costs for these fees in Virginia Beach range from $350-600.)

  • Transfer Fees and Taxes: County or state deed taxes and other local taxes related to selling a property in your municipality should also be taken into account. These vary by location and property.

  • Judgements or Liens: If your title search brings up any debts on the property (just as from medical judgements or liens on the property), they must be paid off before the sale goes through or be deducted from the home sale profit in order to provide the clean title the buyer’s lender will require.

Estimate and input seller paid closing cost expenses like title search and settlement fees in the home sale proceeds calculator.

Debt Payoff and Fees:

If you have a current mortgage or other outstanding debt, calculate what you owe as a debit to your bottom line. Lenders typically also charge a small fee (from about $50-$200) to process the final payoff of a loan.


Step 3: Subtract your total expenses & outstanding debt from the purchase price to get your home sale net profit

When you subtract the estimated expenses plus any debt pay-off from your estimated purchase price, you’ll have a good idea of the net profit you can expect from selling your house. Seasoned homeowners and investors will use an excel tool (like our Home Sale Proceeds Calculator) that allows them to estimate their net proceeds quickly and efficiently prior to making any decisions.

Subtract the total expenses plus outstanding debt from the sales price to determine your net proceeds on a home sale.

Bottom Line

When it comes to selling with confidence, having an accurate estimate of your home sale profit is crucial to making the right decision. If you are an owner or an agent, download our free and easy Home Sale Proceeds Calculator today. Our tool allows you to compare multiple offers or different scenarios side-by-side so that you can make an informed decision when selling your home.


For help navigating the home sale process, CGP’s licensed broker provides potential Hampton Roads sellers with a free consultation, comparative market analysis, and net proceeds estimate. You can contact us here.