You see the Zestimate. Or maybe you’ve been scrolling through Redfin, eyes wide at the neighbor's "Sold" price. You’ve already mentally spent that money. New car? Debt-free life? Maybe a down payment on a place with a kitchen that doesn't look like a 1970s time capsule. But here is the cold, hard truth: the number you see on the sales contract is a lie. Well, maybe not a lie, but it’s definitely an exaggeration. When people ask how much will I get from selling my house, they usually forget that the "gross price" and the "net proceeds" are two very different beasts.
The gap between those two numbers is usually about 7% to 10% of the sale price. Sometimes more.
If you sell a house for $400,000, you aren't walking away with $400,000. You're probably walking away with something closer to $360,000. Maybe $350,000 if your roof is leaking or your agent is a shark. It’s a lot to stomach. Honestly, it’s enough to make some people stay put and just paint their shutters instead.
The Commission Gut-Punch
Let’s talk about the elephant in the room. Real estate commissions. For decades, the standard was a 6% split between the buyer’s agent and the seller’s agent. But things changed recently. Following the landmark $418 million settlement by the National Association of Realtors (NAR) in 2024, the "standard" rules got tossed out the window.
Now, you don't necessarily have to pay the buyer's agent. But—and this is a big "but"—most sellers still do to stay competitive. If you refuse to offer a buyer's agent commission, those agents might just stop showing your house. It’s a gray area. It’s messy. Basically, you should still budget around 5% to 6% for commissions if you want a smooth sale, though you have more leverage to negotiate now than your parents ever did.
Closing Costs Aren't Just for Buyers
Everyone talks about the buyer’s closing costs. Nobody warns the seller. You’ve got transfer taxes. You’ve got title insurance. In some states, like New York or Florida, the government takes a hefty slice just for the privilege of you handing over the keys.
Then there’s the "pro-rated" stuff. You’ll owe property taxes for the exact number of days you owned the home that year. If you haven't paid them yet, that comes out of your check at the table. Same goes for HOA fees. If you’re in a neighborhood with a strict association, they might even charge a "transfer fee" just to update their records. It’s death by a thousand paper cuts.
The Inspection Trap and the "Hidden" Repair Bill
This is where the math gets really squirrelly. You think your house is perfect. Then the inspector crawls into your attic and finds a family of raccoons or a localized mold colony.
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Suddenly, the buyer wants $10,000 off the price. Or they want you to fix it before closing.
According to data from HomeLight, sellers spend an average of $14,000 on repairs and staging before even hitting the market. You don't have to do it, obviously. But if you don't, your "Sold" price will reflect that. You're either paying for the repairs now or giving a discount later. There is no third option where the buyer just ignores the cracked foundation because you're a nice person.
The Staging Gambit
Does staging matter? Honestly, yeah. It does. A vacant house looks smaller than a furnished one. It feels cold. People can't visualize where their oversized sectional will go. Spending $2,000 on a stager can sometimes net you $10,000 more in offers. It's a gamble, but usually a winning one.
Mortgages: The Final Boss
Unless you’re one of the lucky few who owns their home outright, your biggest expense is the mortgage payoff. But wait. It’s not just the balance you see on your monthly statement.
Lenders charge interest in arrears. If you close on the 15th of the month, you owe interest for those 15 days. Plus, some loans have "prepayment penalties," though those are rarer than they used to be. Your escrow account might have some cash in it that you'll get back eventually, but don't expect it at the closing table. That check usually arrives in the mail weeks later, like a small, sad consolation prize.
Capital Gains Tax: Will the IRS Take a Bite?
If you've lived in the house for at least two of the last five years, you’re probably fine. The IRS gives you an exclusion: up to $250,000 in profit for singles and $500,000 for married couples.
But what if you bought a fixer-upper in Austin ten years ago for $200,000 and just sold it for $800,000? You’ve got a $600,000 profit. If you’re married, $100,000 of that is taxable. That can be a massive hit. You need to keep receipts for every renovation you ever did—that new deck, the finished basement, even the central AC. Those costs get added to your "basis," which lowers your taxable profit.
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Seriously. Keep your receipts. Digital folders are your friend.
A Real-World Example: The $500k Sale
Let's look at a hypothetical (but very realistic) scenario to see how much will I get from selling my house when all is said and done.
- Sale Price: $500,000
- Agent Commissions (5%): -$25,000
- Closing Costs & Taxes (1%): -$5,000
- Pre-sale Repairs/Staging: -$7,000
- Mortgage Payoff: -$310,000
- Home Warranty for Buyer: -$600
- NET PROFIT: $152,400
You started with a $500k asset and walked away with $152k in cash. If that feels low, remember that the $310k went toward debt you already owed. But the $37,600 in "friction costs" is the part that hurts.
Why the Market Timing is a Wildcard
Interest rates change everything. In 2021, buyers were waiving inspections and paying $50k over asking. Those days are mostly gone. In the current 2026 market, buyers are pickier. They have leverage again.
If your house sits on the market for 60 days, you’re still paying the mortgage, the insurance, and the utilities. Those "holding costs" eat into your net proceeds every single day. If your mortgage is $3,000 a month and it takes three months to sell, you just "lost" $9,000. Speed is literally money.
The iBuyer Shortcut: Is it Worth It?
You’ve seen the ads. "We buy houses for cash! No showings! No repairs!"
Companies like Opendoor or local "We Buy Houses" investors offer convenience. But convenience has a price tag. Usually, these buyers offer below market value. Then they deduct a "service fee" that can be as high as 13%.
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You might get your money in two weeks, but you’ll probably get $30,000 to $50,000 less than if you sold it traditionally. It's great if you’re in a rush or inheriting a hoarder house, but for most people, it's an expensive luxury.
Negotiating Like a Pro
You don't have to accept the first offer. And you don't have to accept the first set of repair demands.
If a buyer asks for a $5,000 credit for an old HVAC system that still works, say no. Or offer $1,500. Everything in a real estate deal is a negotiation until the ink is dry. Many sellers get "deal fatigue" and just start saying yes to everything just to be done with it. That’s a mistake. Stay firm on the big stuff.
How to Actually Calculate Your Number
Don't guess. Do the work before the sign goes in the yard.
- Get a Preliminary Title Report: This shows if there are any liens you didn't know about (like a stray contractor bill from five years ago).
- Ask an Agent for a Net Sheet: A good Realtor will give you a spreadsheet that breaks down every single estimated cost. If they won't do this, find a different agent.
- Call Your Lender: Get the exact payoff amount, not just the balance on your app.
- Be Honest About Repairs: If you know the dishwasher is held together by duct tape and prayers, factor in the cost to replace it.
Actionable Next Steps
Stop looking at the listing price and start looking at the "walk-away" number. To get the most accurate picture of your future bank balance, follow this checklist:
- Request a "Seller's Net Sheet" from two different local agents. This will show you the regional variations in taxes and fees that automated online calculators miss.
- Audit your home's "Basis." Dig through your bank statements for any major home improvements. Every dollar you spent on a permanent upgrade reduces your potential capital gains tax.
- Get a "Pre-inspection." Spend $500 now to find the problems that a buyer will use to beat you down by $5,000 later. Fix the small stuff yourself.
- Check your local inventory. If there are ten houses like yours for sale in your zip code, expect to pay more in concessions. If yours is the only one, you can be much stingier with your credits.
Selling a house is a business transaction, not an emotional one. Treat it that way, and you won't be disappointed when the final check lands in your hand.