Jake Burhans shows a seller what they actually take home from a $615,000 sale. After realtor commissions and closing costs eat up 8-10%, they're left with around $553,000, not the full asking price. These fees can sometimes be negotiated down.
I started at $615,000 and realtor—
Okay. But if there was no realtor commissions, we cover the closing costs, all that, where do you think you'd be at?
Probably closer to $595,000, $599,000.
$595,000. Okay. Got it. Because typically the cost to sell a property in the US is about anywhere from 8% to 10%, right? So it probably cost you— say you sold it on the market at $615,000, take away the realtor commissions at 5%, 6%, right? Closing costs at 2% to 3%. You're looking at probably walking away with about $553, right? Maybe a little bit more if you can negotiate those fees, but that's really the walkaway number, you know? So is that kind of like if you were to walk away net in your pocket somewhere around that price point?
Sorry, please repeat that last sentence.
I'm just saying if we're talking about what you're walking away with, right, that $553 number is kind of more accurate, right, versus $600?
Correct. Correct.
Okay, got it.
