Costs of Selling Your Home
Costs of Selling Your Home
Selling your home is typically about making a profit. You shouldn't forget however that there are costs associated with real estate transactions. Here is a quick reminder of the expenses you'll need to account for when you sell your home.
- Mortgage balance and any home equity loans
- Mortgage prepayment penalty (if any)
- Pre-sale preparations like repairs, updates, and cleaning costs
- The real estate broker commission
- Capital gains tax, but only if you don't qualify for an exclusion.
- Moving costs
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