Thinking about downsizing in Hampton Roads? Before you start planning around what your home could sell for, there’s another number I want you to know:

What would you actually walk away with?

Your sale price is not your take-home amount. Your estimated proceeds can be affected by:

1. Mortgage payoff: This may be different from the balance you see online.

2. Real estate compensation: Based on the agreements and terms negotiated in your transaction.

3. Seller closing costs: Title, settlement and other transaction-related expenses.

4. Taxes & prorations: Certain expenses may be prorated through your closing date.

5. Buyer concessions: If you agree to contribute toward a buyer’s closing costs or other expenses.

6. Repairs & negotiations: Inspection negotiations or other agreed-upon items can affect your bottom line.

For someone considering downsizing, rightsizing or moving after becoming an empty nester, this is often more important than simply knowing what your house is worth.

Because the question isn’t just: “What could our house sell for?”

It’s: “What would we actually have available for our next move?”

If you're considering downsizing in Hampton Roads, Virginia, comment NET and we can put together an estimated seller net sheet so you can see the numbers before making any decisions.

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