Tag Archives: Selling in Elk Grove

Have you considered the COST of Selling Your Home?

download (2) Let’s be honest, selling your home is about making a profit, however, that doesn’t mean that it comes without costs. Here is an overview of some of the major costs you will be responsible for paying.

How Much is My Home Worth?

Mortgage Balance
This is the remaining balance on your original home loan.  You will need to pay off your mortgage in its entirety when your home is sold.

Home Equity Loans (2nd & 3rd Mortgages)
Any loan against the value of your home will also need to be paid in full after the sale of your home.

Pre-Payment Penalties
The bank or lending institution that currently owns your mortgage title may assess a pre-payment penalty.  You should speak to your lender directly, and ask if they plan on assessing a pre-payment penalty.  Once you know exactly how much that amount is, you may be able to negotiate with your lender to reduce or waive the pre-payment penalty, if there is any.  You will also want to submit a formal pre-payment notice to your lender.

Pre-Sale Preparations
In most cases, it is not advisable to make major investments in your home right before a sale. There are however, a few things that can be done to increase the curb appeal, fix minor problems, or anything to make your home more attractive to potential buyers.

How to Price to Sell and Still Make a Profit



Closing Costs
All closing costs associated with the sale of your home will be listed for you and for the home buyer in the final HUD statement.  The buyer is generally responsible for all of these closing costs, which include:

  • Loan Fee’s for the Buyer’s home mortgage
  • Insurance Premiums
  • Title costs (Examination and Insurance)
  • Legal Documents and service fees
  • Recording & Filing Fees

In some cases, buyers make a request for you as the seller to cover their closing costs as part of their purchase offer.  We will negotiate these requests if they are made, and I will help you understand why it would be to your advantage to cover the buyer’s closing costs, and what limitations we can set to make sure we know the exact net of your home sale before closing.  As the seller, you will be responsible for paying the Real Estate Broker commission fee.

tax Taxes
The money that you make from the sale of your home is considered capital gains.  The good news is that these profits can be excluded from your taxable income, up to $250,000 for an individual, or $500,000 for a married couple, as long as your home was your principle residence.

To exclude the full portion of those gains, you will need to have lived in your house for at least 24 months, in the five years previous to the sale date of the property.  This is considered the “2 in 5 rule”.

Moving Costs
Moving is not only a hassle, it can also be very expensive.  Whether you’re moving to a new house in your neighborhood, or across the country, it’s important to estimate and plan for the full cost of moving from your home once it is sold.

So don’t forget, we are still in this to make a profit, however, it will come with some costs.  So plan ahead and know exactly how much you are going to get out of the sale of your home in the end. This way you can plan for the home you are going to buy, and all of the costs that go along with that purchase!

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Elk Grove homes are SELLING! 6 Closed in 5 days!

The Mode & Durham Team has been hard at work this spring!  Not only are clients listing their homes with us, we are selling them too!  Trust me, not all have gone without their bumps in the road, some bigger than others!  But The Mode & Durham Team can handle it!

9719 Gamay Way, Elk Grove
3 Bedroom | 2 Full Bath | 1064 SF | 1972
Sold in 2 days at Full List Price!

9719 Gamay Way Elk Grove CA 95624 www.FindaHomeinElkGrove.com, front yard


 What is your Home Worth??





8996 Amber Creek Drive, Elk Grove
3 Bedroom | 2.5 Baths | 1522 SF | 1990
Sold above listing price in 24 days!

8996 Amber Creek Drive Elk Grove 95758 www.FindaHomeinElkGrove.com street








5410 Tares Circle, Elk Grove
2 Bedroom | 2 Bath | 1314 SF | 2006
Sold in 3 Days!!








9887 Estancia Ct., Elk Grove
3 Bedroom | 2 Bath | 1456 SF | 1979








9030 Laguna Springs Way, Elk Grove
3 Bedroom | 3 Full Baths | 1959 SF | 1993
Sold in 16 Days!

Laguna Springs






5504 Claudied Way, Elk Grove
4 Bedroom | 2 Bath | 2078 | 2004
This short sale took a while to sell.  We listed the property in July of 2013, and have finally received word that the bank has funded, and we will be on record as SOLD!  This was our LAST short sale, and what a relief, and accomplishment it was to close it!  The reason I bring it up, is because there are still homeowners that are upside down on their mortgage, and need our assistance!  It takes major perseverance to stick with bank negotiations that long!  Most do not take as long as the particular property, but don’t wait to get the process started, if you are considering a short sale on your home.


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