Note, we can’t do this for you, it’s important you do this and seek appropriate advice on costs. This will help us get a pre-approval or estimate ready for you of your borrowing capacity.
It’s also important to not estimate high, if you think you might sell for $380,000 but you’d be prepared to sell for $360,000 – estimate lower etc.
Here are the figures you want to work with:
Your sale price (estimate low remember) $
Less all of the following
Marketing costs for the agent $
Agent’s commission costs $
Solicitor’s costs for the sale $1,000 (a good rough estimate)
The home loan/s to be discharged $
Any other debts you wish to pay out $
Any capital gains if selling an investment $
Any other costs you estimate $
Total estimated profit $
We’ve put this in a little handy excel spreadsheet you can download here too.