The short answer: the number that matters isn’t your sale price — it’s your net proceeds, the money that actually lands in your pocket after everything is paid off. When you’re planning a move closer to family, this is the figure that tells you what you can really afford for your next home. So let me walk you through exactly how it’s calculated, with no surprises.

Many longtime homeowners are pleasantly surprised. If you’ve owned your home for decades, you may have far more equity than you realize — and the costs of selling are often smaller than the worry that surrounds them. Let’s replace that worry with a clear number.

Start with your sale price, then subtract

Your net proceeds are what’s left after you subtract the costs of selling from your final sale price. Here is what typically comes out:

1. Your remaining mortgage balance. If you still owe on the home, that payoff comes out first. Many people at this stage own free and clear, or owe very little — which means most of the sale price is yours.

2. Real estate commissions. This is the agent fee, historically around 5–6% of the sale price split between the buyer’s and seller’s agents, though commissions are negotiable and the structure has been changing. I’ll always lay this out for you in writing before you list.

3. Closing costs and seller concessions. Title fees, escrow or attorney fees, transfer taxes, and any credits you agree to give the buyer. These commonly run 1–3% of the price, depending on your state.

4. Prorated property taxes and any HOA dues. You pay for the portion of the year you owned the home. This is usually a modest amount settled at closing.

5. Any repairs or prep you choose to do. Optional, but sometimes a little paint or a small fix helps the home sell for more than it costs.

A simple example

Say your home sells for $500,000. You owe $40,000 on your mortgage. Commissions and closing costs together come to about $33,000. Prorated taxes are $2,000. Your net proceeds would be roughly $425,000 — the amount you’d actually have to put toward your next home near the grandkids. The exact figure will differ for your situation, but this is the shape of it.

What about taxes on the sale?

Here’s good news that surprises a lot of longtime owners: if the home has been your primary residence for at least two of the last five years, you can generally exclude up to $250,000 of capital gain if you’re single, or up to $500,000 if you’re married filing jointly. For many families, that means little or no tax on the sale. This is general information, not tax advice — your circumstances are unique, so please confirm with a tax professional before you count on any number.

Why knowing this number changes everything

Once you know your net proceeds, the whole move stops feeling like a leap into the unknown. You can see, in plain dollars, what you have to work with — whether that’s buying a smaller home outright near your kids, buying with room to spare, or keeping a cushion for the years ahead. The fear of “will there be enough?” gets replaced by a real, reassuring figure.

And you don’t have to estimate any of this alone. Getting you a clear, honest net-proceeds estimate is one of the first and most useful things I do for the families I help.

Let’s find your number

It starts with knowing what your home is worth today. That’s Step 1, it’s free, and it commits you to nothing. Request your free home valuation at www.copleyrealty.us and I’ll follow up with a friendly, no-pressure estimate of your net proceeds so you can plan your move with confidence.

Helping local families take this next step is what I do — I’d be honored to help you get closer to yours.

Andrew Nguyen · Copley Realty & Finance · 657-200-1201 · copleyrealty@gmail.com · www.copleyrealty.us