The Providence Home Seller Library
What Will I Net Selling My Providence Home?
Your net is what's left after the sale price pays off everything tied to the home. Here's what usually comes out when you sell in Providence.
1. Your mortgage payoff
Ask your lender for a payoff statement, not your monthly statement balance. It includes interest up to the closing date and any home equity line.
2. Commission
Commission is negotiable and is agreed in your listing contract. Ask any agent you interview to show it on a net sheet before you sign.
3. Rhode Island conveyance tax
Rhode Island charges a real estate conveyance tax when a home sells, and the seller usually pays it. It's based on the sale price and is paid at closing.
4. Attorney and closing costs
Most Rhode Island closings use an attorney. Plan for your attorney's fee, deed preparation and recording-related costs.
5. Taxes and utilities
Property taxes are split between you and the buyer as of the closing date. A municipal lien certificate and final water and sewer readings make sure nothing is left owed to the city.
6. Repairs and credits
After the inspection, a buyer may ask for repairs or a credit. Fixing small items before you list often costs less than negotiating them later.
Get your own net sheet
Every home and mortgage is different. Send Jeffrey your address and he'll prepare a free net sheet with real numbers for your home.