Selling your home for $1,000,000 doesn't mean you'll walk away with $1,000,000. What matters is your net proceeds: the money left after your mortgage and selling expenses are paid. In this video, Katherine runs through the costs to consider before you sell.
Mortgage payoff: your remaining mortgage, any home equity loans, and other liens.
Selling expenses: negotiated real estate compensation, escrow and title fees, applicable transfer taxes, and prorated expenses.
Buyer credits and repairs: any negotiated credits, repairs, or money spent preparing the property for sale.
Net proceeds vs. taxable profit: the amount you receive at closing isn't necessarily the amount you owe taxes on; that is a separate calculation.
Before listing your Orange County home, find out what you could actually walk away with. Reach out — Katherine is happy to run a net-proceeds estimate for your home.
Disclaimer: General educational information, not legal, tax, or financial advice. Selling expenses vary by property and transaction, and real estate compensation is negotiable; consult qualified tax and real estate professionals about your circumstances.