The question is “how much money will I make when I sell my house?”.

That’s an excellent question and something that your awesome real estate agent will definitely go over with you.

To give you an easy recap, take whatever the listed price of your house is, minus any closing cost that you agree to pay on behalf of the buyer. Next you would subtract the commission from your real estate agent that you will pay, minus any outstanding liens that you have on the property. This would be your mortgage, or anything that you would have borrowed and used your property as collateral.

The one thing that a lot of people forget is that you will take the proration of the property taxes. In Georgia taxes are billed in arrears.

For example, let’s just say you close on your property on June 30. At closing, you will give the buyer a credit from Jan. 1 through June 30.

Now when that tax bill comes at the end of the year, you don’t have to worry about it, because you’ve already given your portion to the buyer. In addition, depending on some attorney’s office’s , they’ll charge some doc fees, or some overnight fees, but things like that that should be very minimal.

If you take all of those things I mentioned, and deduct it out you’ll actually get a pretty good estimate of what you’ll get at closing.

-Jessica Herrmann, Broker/Owner of Great GA Realty