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Gilson Terriberry
REALTOR®

I firmly believe that an informed consumer is my best client.

Seller's Proceeds Calculator

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Each Office Independently
Owned and Operated
2506 Galen Drive
Champaign, IL 61821

217-378-7483
gilt@gilterriberry.com


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Champaign County Association of REALTORS Real Time Multiple Listing

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This form may be used to calculate an estimate of seller's net proceeds after deducting the closing costs involved in selling a home in Champaign County. Actual closing costs and net proceeds will depend on the sale price, type of financing and agreements between seller and buyer at the time of contracting. Remember that while taxes are paid in arrears, insurance is paid in advance and sellers will be credited at closing for any unused insurance premium.

Fill in the blanks below to determine your estimated proceeds. Those fields that appear in yellow rows will be calculated for you. Do not use any non-numeric values such as commas, dollar signs, etc. Use Tab/Shift+Tab to move back and forth between blanks, arrows within. Place cursor and use Del to make changes within blanks. Reset to clear form and start over.

Projected Gross Equity
Sale Price of Property
(estimated)
Less Mortgage Balance
(estimated)
Less Other Encumbrances
(2nd mortgage payoff, liens, etc.)
Total Estimated Equity

Estimated Closing Costs
Attorney Fee for Closing
(document preparation, contract review, etc.: usually $300 - 500+)
Title Charges: title insurance, etc.
(generally paid by the seller; estimate $100 + $2 per thousand of sales price)
Transfer Tax (Revenue) Stamps 
(seller pays in Champaign County, estimate $1.50 per $1000 of sales price)
Real Estate Taxes
(prorate current year + unpaid portion of previous year, see your county tax bill)
Urbana-Champaign Sanitary
(prorated: estimate $15-25)
Termite Inspection
(plus treatment/corrective work if necessary)
(Record Mortgage release
($20+/-)
Home Protection Plan
(home warranty, usually seller paid - optional: $300 - $500)
Corrective Work and/or Allowances
(if any - usually negotiated, often unknown until after home inspection)
Transaction Fee
(if any)
FHA, VA or Lender Discount Points by Seller
(if any)
Mortgage Pre-payment Penalty
(if any)
Unpaid Assessment
(if any)
Other
(pre-inspection, underwriting fee on FHA & VA loans, etc.)
Real Estate Commission
Total Estimated Deductions

Seller's Estimated Proceeds
Total Estimated Equity
Total Estimated Deductions
Seller's Estimated Net Proceeds
You may print this form for your convenience,
or press the Reset button to try a different set of numbers.

Disclaimer: This script has been tested and addition/subtraction calculations are believed accurate, however, the results derived are only as accurate as the figures entered. No claim is made that all possible closing costs have been included.

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Copyright ©2004 Gilson Terriberry. All rights reserved. Information contained herein is believed to be reliable but is not guaranteed.