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Get a seller net sheet before planning your next purchase

Before using an expected home sale to plan your next down payment, estimate what you will actually receive. Eric's May 12, 2025 Short connects two preparation steps: a seller net sheet and a financing review for the next home.

By Eric Hamilton · Published October 6, 2026

Originally uploaded May 12, 2025 · 1:08 · Watch on YouTube

Written companion added October 6, 2026. Adapted from Eric’s video captions with source checks; not a word for word transcript. The recording retains its original date.

Start with proceeds, not the mortgage balance

A statement balance does not tell you exactly what it will cost to pay off your mortgage. The payoff includes interest through a specified date and may include unpaid fees. Ask your servicer for the appropriate payoff information, then have your real estate or closing team estimate selling expenses and applicable tax prorations. Subtract those items from the expected sale price to estimate the money available for your move.

Prepare for the purchase before timing gets tight

Eric recommends reviewing financing before listing. Tell the lender how much of the next purchase depends on sale proceeds and whether you need to sell first. A preapproval remains conditional, and a seller net sheet remains an estimate. Update both when the price, closing date or costs change. A quick sale is possible, but this 2025 recording cannot establish how quickly your home will sell.

Should my net sheet be exact to the dollar?

Make it detailed, but keep a cushion. The final proceeds depend on actual contract terms, payoff timing and closing adjustments.

Sources and scope

Adapted from May 12, 2025 captions. The recording's expectation of a quick sale reflects the speaker's market commentary at that time.

  1. CFPB: Payoff amount and current balance Accessed October 6, 2026
  2. CFPB: Preapproval and its limitations Accessed October 6, 2026

General education, not a loan quote, approval or an individual recommendation. Ask the appropriate professional about your situation.

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