Why would you need to know your "net profit"?

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Jul 26, 2016
10:35:59pm

MormonDevil All-American

Why would you need to know your "net profit"?

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MormonDevil

Previous username: Chareth Cutestory
Bio page: MormonDevil
Joined: Jan 22, 2003
Last login: Feb 15, 2022
Total posts: 21,955 (3,808 FO)

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Messages

Author

Time

Home seller noob question. When I sell a house, is my net profit simply a

srey

7/26/16 10:31pm

For capital gains? Or what?

titlecoug

7/26/16 10:33pm

No tax. You'll have to pay a realtor probably

7/26/16 10:33pm

That's a part of closing costs though, isn't it? Also, are there usually

srey

7/26/16 10:35pm

Standard home mortgage probably doesn't have early termination penaty

cougarfann888

7/26/16 10:36pm

Just don't forget about it when figuring profit

7/27/16 7:06am

Why would you need to know your "net profit"?

MormonDevil

7/26/16 10:35pm

Maybe that's the wrong terminology. I'm trying to figure out how much I'll

srey

7/26/16 11:45pm

Another term is 'net proceeds'.Equity is normally unrealized, where proceeds are

BYUFBDAD

7/26/16 11:58pm

This is Srey's house for sale for anyone interested

HansMoleman

7/26/16 10:43pm

Really like the master suite

7/26/16 11:21pm

One of the highlights of the property!

HansMoleman

7/26/16 11:44pm

You could make that an LDS/pioneer themed bed and breakfast.

WDaddy

7/27/16 6:37am

Not always a profit, the amount you're left with is called equity.

BYUFBDAD

7/26/16 11:43pm

Thanks.

srey

7/26/16 11:45pm

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