net proceeds

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Net proceeds are the amount of money received from the sale of a home after the transaction costs. This is the best way for a sell to have a large down payment on the next home they purchase. It gives them some flexibility with the next purchase. You can use all or part of the money as down payment.

What I tell most people is to not use all of the money for the down payment of there new home if they don’t have to. Here are the reasons why. First when people move to a bigger home they acquire more things to move. When most people buy there first home they normally get friends to help move. On the next move people have more things and want to hire movers to do the work for them.

Next people sometimes need more furniture when they purchase a bigger home. Or want to pay off some creid card debt so the only expense they have is there mortgage. Everybody’s situation is different. That is the mane thing I try to tell every customer.

Finally after you purchase your first home you shouldn’t need any more money out of pocket to purchase a home after that. The net proceeds from the sale of you current home should be enough for a down payment on a new home for most customer. I hope this has been helpful to you.