What will I walk away with when I sell my home in Spokane?

The formula

Sale price − mortgage payoff − selling costs = what you walk away with.

Your mortgage payoff

This is not the balance on your last statement. The payoff includes interest up to the day the loan is paid, and any second loan or home equity line is paid off too. Your lender issues an exact figure during escrow.

The costs of selling in Washington

• Brokerage compensation. What you agree to pay for the sale. It is negotiable and set in your listing agreement.
• Real estate excise tax. Washington charges sellers a graduated state tax on the sale price, plus a local portion.
• Title and escrow. Title insurance and the escrow company’s fee.
• Property taxes. Settled between you and the buyer to the day of closing.
• Anything you agree to in the sale. Repairs after inspection, or a credit toward the buyer’s costs or interest rate.
• Smaller items. HOA transfer fees, final utility bills and recording fees.

Get a quick estimate

The sell-then-buy calculator lets you enter your price, your payoff and your own estimate of selling costs, and shows the result straight away.

Get a real net sheet

For an accurate number, I prepare a net sheet: a line-by-line estimate at a realistic price for your home, with each cost filled in. It is free and you do not have to list with me to ask for one.

This is general information, not tax advice. Ask your tax professional about your own situation.