- Oct 24, 2000
- 17,254
- 44
- 91
I'm getting down to the wire on the closing of my new house and the sale of my condo.
Sale Price of the Condo: $137,900
Commission percentage: 6%, $8,274
Amount left on Condo Note: $101,000
Purchase Price of the Home: $291,000
Financing type: 80-10-10
Deposit in Escrow: $6000
Difference left for 10% down payment on house: $23,100
Now, the way I was looking at things, if we take the sale price of the condo, subtract the amount left on the note, subtract the commission, we'd be at roughly $28k. But I wanted to make sure how much money we'd be getting from the sale, so I asked my agent to look into it for me. She called me back today and said that I'd be getting $19k, not $28k... That's a freaking $9k difference. What am I missing that would cost $9k?
Sale Price of the Condo: $137,900
Commission percentage: 6%, $8,274
Amount left on Condo Note: $101,000
Purchase Price of the Home: $291,000
Financing type: 80-10-10
Deposit in Escrow: $6000
Difference left for 10% down payment on house: $23,100
Now, the way I was looking at things, if we take the sale price of the condo, subtract the amount left on the note, subtract the commission, we'd be at roughly $28k. But I wanted to make sure how much money we'd be getting from the sale, so I asked my agent to look into it for me. She called me back today and said that I'd be getting $19k, not $28k... That's a freaking $9k difference. What am I missing that would cost $9k?