Home Sale Proceeds Calculator: Cash at Closing
Use this home sale proceeds calculator to estimate your sale budget or closing funds from your own loan, cost and credit figures.
What This Calculator Does
Planning the sale? Budget mode works from what you still owe on the mortgage today. Ready to close? Closing mode works from a dated payoff quote. You supply your own charges, allowances and credits, and you get back an estimate of cash that may show a surplus or a shortfall. It's an estimate only: not profit, not a tax calculation and not a guaranteed closing wire.
Who Is This For
It's built for Florida homeowners getting ready to sell, and for the agents helping them figure out how much cash the sale needs or check the settlement figures they've been quoted. Budget mode works early, before any firm quotes exist. Switch to closing mode once the payoff and other cash items are in hand.
How It Works
Start by choosing a mode and typing the sale price. Budget mode then asks for today's loan balance, the yearly rate if there's a loan, how many full months to model, and your prep and moving budgets. Add any other cash holding costs too. None? Type 0, but remember that 0 doesn't make ownership free. For closing mode, add the payoff amount and the date on that quote, if a quote exists. Each fee and each tax can go in either as a percentage or as a quoted dollar amount. Then fill in the commission you agreed to, any concessions, and your other debits and credits, putting 0 in any field that can't stay blank. Last step: check the result, + or −, against the quotes you have today.
Frequently Asked Questions
What sets the sale budget apart from closing funds?
Each one subtracts a different set of costs. Your budget removes the mortgage balance as it stands now, any closing costs you've typed in, and your prep, moving and other holding expenses. It also charges interest on that balance as if it never shrinks. Holding costs can't be left blank. With none to report, enter 0; a 0 still doesn't show that keeping the home is free. Closing funds work differently. There, only the payoff with its quote date and the closing entries you made are taken away, and budget-only items stay out. A gap in your budget, then, isn't cash you'd have to bring to closing.
Will my loan statement balance work as a payoff figure?
Not automatically. Your servicer's payoff can include interest up to the date on the quote, with other charges on top. For that reason the calculator asks for the balance (budget) and the payoff (closing) in different places. Got a payoff to enter? Log the real date it was quoted. The calculator accepts that date but never checks the quote behind it, so have your servicer confirm both the figure and the date. A payoff they've confirmed at zero needs no date. Any other lien with a quote gets its own line, unless the payoff figure already covers it.
Are these percentages standard Florida rates?
No. The commission percentage and any buyer concessions are seller costs set by negotiation. Holding a flat dollar quote? Enter it as an additional debit and make its percentage zero. For closing fees and taxes, there's room for a percentage allowance and, in its own box, a dollar quote. Older saved inputs of 0.7 mean 0.7%, never $0.70. The tax allowance is only your estimate; it doesn't work out deed tax under the statute. Ask for the quote covering what you, as seller, will actually pay. No rate is treated as universal, and neither is who pays.
Which credits raise my funds?
Only credits that are quoted and owed to you as seller, like a refund or a proration that isn't already sitting in another field. Concessions to the buyer pull the other way and shrink what you receive. Has a payoff or fee quote already subtracted a credit? Then don't enter it again. A charge entered in a field shouldn't show up in any other.
Are withholding and other debits the same as my profit or my tax bill?
No, neither. Enter quoted prorations, escrow adjustments, any withholding and payments on other liens as additional cash debits, without repeating them. Cash held back or paid out at closing isn't automatically a permanent cost. Nor is it automatically your final tax. The calculator doesn't work out FIRPTA or income tax, approve a refund, gauge your profit or vouch for the settlement numbers.
What happens to zeros, holding costs and cents?
Any field you use must hold something; if the answer is zero, type 0. The other-holding-costs field wants a number, or 0 when there's nothing to add. That 0 doesn't prove there's no real cost. What belongs there? Taxes, insurance, HOA dues and upkeep while the home is listed. Budget mode uses them; closing mode doesn't. Don't include mortgage payments or anything already entered elsewhere. Each percentage charge, and the budget's interest, gets rounded to the nearest cent line by line, and only then added up. Dollar quotes keep whatever cents you entered. Actual quotes may differ, so check them against what your servicer and closing agent send you.