Seller's Bottom Line — Freedom Group Homes

Step 1 — Your Sale & Net Proceeds

What actually hits your bank account on closing day

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🏠 About the Sale

Expected Sale Price ?The price you expect to sell your home for. Be realistic — use what comparable homes in your area have recently sold for, not what you hope to get.

Current Mortgage Balance ?The amount you still owe on your primary mortgage. Check your most recent statement. The actual payoff will also include interest accrued to the closing date, which we estimate below.

Home Equity Loan / Line of Credit Balance ?Any second mortgage or home equity line of credit balance. These must also be paid off at closing. Enter 0 if none.

Current Mortgage Interest Rate (%) ?Your current mortgage interest rate. Used to estimate the additional interest that accrues from your last payment to the closing date — typically 15 to 30 days of interest.

Used to estimate interest accrued to closing date

💰 Selling Costs

Agent Commission (%) ?Seller typically pays both agents' commissions. Total is usually 5–6% of the sale price. You can negotiate, but budget the full amount.

Attorney Fees ?In New Jersey, attorneys handle the closing process. Seller's attorney fees typically run $1,500–$3,000. This is not optional in NJ — you need an attorney.

Seller Concessions ?Any closing cost credits you agree to give the buyer — for example, agreeing to pay $10,000 toward the buyer's closing costs to make the deal work.

Pre-Sale Repairs / Staging ?Costs to prepare the home for sale — painting, repairs, professional staging, cleaning, landscaping. Well-staged homes sell faster and for more.

Are you a New Jersey resident? ?If you are NOT a New Jersey resident at the time of sale, the state requires withholding of the higher of 2% of the sale price or 10.75% of the gain. This is the NJ "Exit Tax." NJ residents are exempt using Form GIT/REP-3.

Step 2 — Tax Impact

Profit and cash are not the same thing

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Why this matters: When you sell a home for more than you paid, the difference is called a capital gain. Depending on how long you lived there and your income, you may owe federal and state taxes on that gain. Fortunately, the IRS allows most homeowners to exclude a large portion of the gain from taxes.

🏠 Your Cost Basis

Original Purchase Price ?What you originally paid for the home. This is the starting point for calculating your cost basis.

Original Purchase Costs ?Closing costs you paid when you bought the home — attorney fees, title insurance, inspection, recording fees. These add to your cost basis and reduce your taxable gain.

Capital Improvements Made ?Major renovations and improvements you made to the home — kitchen remodel, addition, new roof, new HVAC, finished basement. These add to your cost basis. Normal maintenance like painting and fixing leaks does NOT count.

Major renovations only — not routine maintenance or repairs

📌 The 2-Out-of-5-Year Rule

Did you live in this home as your primary residence for at least 2 of the last 5 years? ?The IRS "2-out-of-5 rule" — if you lived in the home as your main home for at least 2 of the last 5 years before the sale, you qualify to exclude up to $250,000 of gain (single) or $500,000 (married filing jointly) from federal and NJ taxes. This is one of the biggest tax benefits available to homeowners.

Filing Status

Estimated Annual Household Income ?Used to estimate the capital gains tax rate. Long-term capital gains (property held more than 1 year) are taxed at 0%, 15%, or 20% federally depending on your income.

Step 3 — Your New Residence or Investment Property

Monthly cost to own — or rental income analysis if buying as investment

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After you sell, what are you planning to do?

🏠 New Home Details

Target Home Price ?The purchase price of the next home you are considering. If you are not sure, enter your best estimate — you can adjust it to see different scenarios.

Down Payment ($) ?How much of your sale proceeds you plan to put toward the down payment on your next home.

Down Payment (%)

Mortgage Rate (%) ?The interest rate for your new mortgage. Check current rates at freddiemac.com. Your actual rate depends on your credit score and lender.

↗ Check current rates at Freddie Mac

Loan Term

Annual Property Tax (New Home) ?Estimated annual property taxes for your target town. New Jersey property taxes average 2.1% of home value — among the highest in the nation.

Annual Homeowner's Insurance ?Annual homeowner's insurance premium. Budget $1,200–$2,500 per year for most New Jersey homes.

Step 4 — The Move Comparison

Does the move make financial sense?

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🏠 Your Current Home Costs

Current Monthly Mortgage Payment

Current Monthly Property Tax

Current Monthly Insurance

Current Monthly HOA (if any)

Your Bottom Line is Clear. Now Let's Make the Move.

A calculator gives you an estimate. A local expert gives you a strategy. Connect with a vetted Freedom Group agent for a personalized equity analysis and market report — no pressure, just clarity.

🏠 Help Me Find a Home

📞 (201) 954-3649 · www.freedomgroup.homes

This calculator provides estimates for general informational purposes only and is not legal, tax, or financial advice. NJ Realty Transfer Fee calculated using 2025/2026 NJ REALTORS graduated schedule. Capital gains estimates use 2025 federal rates. Consult a licensed attorney, CPA, and real estate professional before making any decisions.

Expected Sale Price	—
Payoffs & Costs
Primary Mortgage Payoff	—
Home Equity / Line of Credit Payoff	—
Interest Accrued to Closing (est. 20 days)	—
Agent Commission	—
Attorney Fees	—
NJ Realty Transfer Fee	—
Seller Concessions	—
Pre-Sale Repairs & Staging	—
NJ Exit Tax Withholding (non-resident)	—
Net Cash from Sale	—

Expected Sale Price	—
Less: Original Purchase Price	—
Less: Purchase Closing Costs	—
Less: Capital Improvements	—
Your Adjusted Cost Basis	—
Total Gain (Sale Price minus Basis)	—
IRS Exclusion (2-of-5 rule)	—
Taxable Gain (Estimated)	—
Estimated Federal Capital Gains Tax	—
Estimated NJ State Tax (on gain)	—
Estimated Total Tax Owed	—

New Home Price	—
Down Payment	—
Loan Amount	—
Monthly Payment Breakdown
Principal & Interest	—
Property Tax (monthly)	—
Homeowner's Insurance (monthly)	—
Total Monthly Payment	—

The Seller's Bottom Line.