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Real Estate
Reply to "please help me understand something about selling"
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[quote=Anonymous][quote=Anonymous]A quick google search suggests that selling costs total around 8.5% - 6% for commission plus 2% for the assorted other items, meaning the seller pockets about 91.5% of the sales price. So a rough estimate of what you will clear at sale would be this amount minus your outstanding balance. Thus: $ is pocket = 0.915 x Sales Price - Outstanding balance - OR (approximately) - Sales Price = 1.1(Money in pocket + Balance) Thus to get 100K now with ~320K outstanding you need to sell for just over $460K. [/quote] Thank you! Super helpful![/quote]
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