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Use our home sale calculator to estimate the cost of selling and the net proceeds you could earn from the sale. Get cash offer. Home sale price Enter the selling price of your home. $. See what Opendoor can offer for your home. Real estate agent fees In a traditional home sale, the seller pays fees to both their agent and the buyer's agent.
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- How selling works | Opendoor
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- How Opendoor calculates your home’s value
Real estate agent fees In a traditional home sale, the seller pays fees to both their agent and the buyer’s agent. It’s common for the total commission to be around 5-6% of the sale price.
Our experts can walk you through how Opendoor is different and help you decide if it’s right for you. Call 888-352-7075 or email at support@opendoor.com. Call us.
Use Zillow's free tool to estimate how much money you will make selling your home. Enter your desired selling price, remaining mortgage, and other costs to see your net proceeds and tips for selling.
- Home Sale Calculator
- How to Calculate Your Home Sale Proceeds
- Breaking Down The Cost of Selling A House
- Ways to Maximize Your Home Sale Profit
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How this calculator works
You can adjust the numbers in our home sale calculator based on variables like: 1. Your estimated sale price 2. Additional selling costs (like moving) 3. Realtor fees Use our other calculators to drill down on specific costs for selling👇 Real estate commission | Closing costs | Capital gains | Mortgage payoff
Realtor commission
Real estate agents typically charge 5-6% of the sale price to sell your home. Realtor commissionis usually split between the: 1. Buyer’s agent (1.5%) 2. Buyer’s broker (1.5%) 3. Listing agent (1.5%) 4. Listing agent’s broker (1.5%) *Assumes a total 6% commission a 50/50 split between each agent and their broker. In other words, when $18,000 (6%) is deducted from your $300,000 home sale at closing, your agent only walks away with about a quarter of it (roughly $4,500, in this scenario).
Closing costs
Seller closing costs range from 1-3% of the final sale price. Some of these costs can be negotiated, but typically seller closing costs include: 1. Prorated property taxes— The remaining portion of property taxes that you owe in the calendar year may be due at the time of the sale. 2. Title fees— Fees for changing the ownership on the property’s title. 3. Transfer taxes — Taxes that some counties/municipalities charge for transferring ownership of a residential property.
Capital gains taxes
Capital gain occurs when you make a profit from the sale of your home. Use our capital gains calculator to figure out what your gain might be. The total tax on the gain depends on your marginal tax rate, and whether or not you qualify for the $250,000 or $500,000 exemption based on two years or more of residency. (see above) We’re not tax professionals, but we recommend speaking with one if you have any questions about your tax situation!
Get a lower commission rate
Most people pay 5-6% commission (2.5-3% per side) without realizing that realtor commissions can be negotiated. As a home seller, it’s difficult to negotiate buyer’s agent commission — sellers usually offer a standard rate in your area, but you can negotiate realtor fees with your listing agent. Local agents might not agree to reduce their listing fee for you, but a reduction of even 1% could save you thousands of dollars. We pre-negotiate a reduced commission with top agents from well-known...
Don’t sell before 2 years
If possible, you should wait to sell until you’ve owned your home for at least two years. Life circumstances might force you to sell, but selling before the two-year mark will result in a steep capital gains tax that could affect your profits. Thanks to the IRS’s Section 121 exemption, it’s unlikely that you’ll have to pay any capital gains taxes. The exemption makes that first $250,000 gain tax free, or the first $500,000 if you’re married and filing jointly. » READ: Selling a House Before T...
Build more equity in your home
You’ll net more money from your home sale by continuing to pay off your mortgage. That’s because the more of your debt that you pay off, the more of the home you actually own — a concept called “equity”. Home equity represents the dollar amount of how much of your home you own once your current mortgage balance is factored out. Home equity = Current home value – current mortgage balance For example, if Susan’s house is currently worth $350k and she’s got $100k left on her mortgage, her equity...
Internal Revenue Service. ‘Topic No. 701: Sale of Your Home.’ Jan. 24, 2022. https://www.irs.gov/taxtopics/tc701National Association of Realtors. ‘NAR Reaches Agreement to Resolve Nationwide Claims Brought by Home Sellers.’ March 2024. https://www.nar.realtor/newsroom/nar-reaches-agreement-to-resolve-nationw...Consumer Financial Protection Bureau. ‘Know Your Rights: Your Mortgage Servicer Must Comply with Federal Rules.’ Sept. 2020. https://files.consumerfinance.gov/f/documents/cfpb_know_your_rights_mort...Remodeling Magazine. ‘2022 Cost vs. Value Report.’ https://www.remodeling.hw.net/cost-vs-value/2022/How Much Does it Cost to Sell a House? True Costs Revealed. Learn more about the hidden costs of selling,and how you can save when you’re ready to list your home. What Companies Offer the Lowest Real Estate Commission Fees?We break down the best low commission services in real estate. Learn where to go to save money on realtor commissions without c...
For select homes, you can skip the bidding and secure the home for less than the list price by buying directly from us. Navigate to the listing for the home you’d like to purchase. Choose “Buy directly from Opendoor” and select “Buy now”. Follow the instructions to enter your info, upload your pre-approval letter, and review and sign ...
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How we value your home explained in 2 minutes. After you enter your address and tell us about your home, our goal is to have a competitive, all-cash offer in your inbox within 24 hours. We don’t try to make “low ball offers” because, unlike a home flipper, our business model isn’t based on buying low and selling high.
