How to Calculate Seller's Cost on a HUD in Texas

A seller of a HUD come need so calculate selling costs

Calculating the seller's cost on a HUD home in Texas is part of the home selling process to determine how much they can expect to receive in net proceeds from the sale of the house. The seller typically does not have many costs that need to be paid directly. However, there are a few payments that will need to be calculated to determine how much you will pay for various expenses that may be required when selling a home.

Things You'll Need

• Notepad
• Calculator

Instructions

1. Determine the commission that will need to be paid to the broker or realtor for selling your home

2. Find out from the bank or mortgage company if there is any prepayment penalty for paying off the remainder of your balance.

3. Make a note of any attorney's fees that you have paid for work related to the sale of the home.

4. Calculate the amount of unpaid property taxes that you still owe. You are responsible for any taxes that are due.

5. Keep a receipt for the amount that you have paid for any inspections that were done during the process of selling the home.

6. Add together the total from steps 1 through 5 to calculate the total amount of expenses that you will incur as the seller on a HUD in Texas.

Tips & Warnings

• Subtract the total expenses from the net proceeds of the sale to determine how much you can expect to pocket from the sale.

• The acronym HUD stands for the U.S. Department of Housing and Urban Development.

References

• realtor.com: Set Your List Price

Resources

• hud.gov: Texas/U.S. Department of Housing and Urban Development