We are frequently asked this question by many sellers in the Twin Cities. If you are from another area, your numbers may be different because real estate is local, and the cost to sell a home is also very local.

To keep things simple, we'll use an estimated commission of 7% to sell a home. After the commission, you also have the closing fee ($325-400), conservation fee ($5), state deed tax (0.0034 of sales price, or $340 per 100,000), recording and service fees ($100), RE/MAX Results broker commission ($499), and an adjustment for county taxes.

If you want a very quick and easy way to calculate your bottom-line net, here is a quick estimate. Take a total of 1% plus commission being paid off your gross sales price. It is broken down like this: 7% commission, 1% seller's closing costs for a total of 8%.

An example is this: $400,000 sales price LESS 7% LESS 1% = $368,000.