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Do You Get All the Money When You Sell Your House?

If you’re selling your home, one of the things you have to look forward to is the money you’ll receive from the sale. David Dorman in Ocoee, FL is here to help you sell your home and get the most out of the experience.

Do You Get All the Money When You Sell Your House?

The process of putting your home up for sale can be daunting. Working with a qualified real estate agent is one way that you can make the process much easier for yourself. But you may still have a lot of questions when it comes to selling your home, especially about the payment.

After the closing process is complete, you’ll receive the money you made from the sale. But are you going to receive all of it? There are several costs involved with the sale of a house, and you’ll have to pay them before you can take home the money from the sale. The good news is that you won’t have to worry about making sure the money goes to the right places. Rather, your closing agent will handle that for you. Here are a few places where some of the money from your sale is going to go.

Your Mortgage

If you haven’t paid off your mortgage yet, then part of the money you make from your sale is going to have to go towards paying the remainder off. It’s only fair, after all!

Of course, if you’ve already paid off your mortgage then you won’t need to worry about losing money to your mortgage broker. But if you still need to pay it off, before closing you’ll receive a notice that will tell you how much your payment will be. This notice will also include any fees or prepayment penalties that might be owed due to satisfying your mortgage before its full term.

Your Real Estate Agent

Your real estate agent works hard to make sure that you’re getting the best deal possible. If you’re working with a good real estate agent, they’ll make sure that your home is sold quickly and for the most money you can reasonably expect to get.

Your agent needs to be paid for all that hard work! So part of the fees involved with selling your home, including paying your agent. Most agents are paid a percentage of the sale price, and this percentage can vary. Your agent will let you know what percentage you can expect to be paying them.


The contract of your sale will vary from sale to sale. If your home isn’t in the best shape, then part of the contract might be making any necessary repairs for the buyers. Most of the time when you’re selling a home, a home inspection will be a necessary part. If the inspector finds any major issues, you as the seller will be responsible for fixing them.

Of course, this will be taken out of the money you receive from the sale of your home.


Before you can transfer your property’s title over to the buyer, you’ll need to pay off any liens that might exist against your property. If you don’t have any liens, then you won’t need to worry about this. But if you do, part of your payment will need to go towards paying them off.

Liens can come from a variety of things including civil judgments, child support obligations, or creditor judgments.

Outstanding Amounts Owed

Owning a home means having to pay for all your property taxes and utilities. If you have any outstanding fees at the time that you sell your home, then it will be your job to pay them.

The amount that you pay will vary on a case-by-case basis.

Other Closing Costs

At the time of closing, there may be other closing costs that you need to pay off. These closing costs will change depending on where you live and what specific fees you might owe. These might include a title search, which is a public records search that confirms you’re the owner of the property. There’s also a transfer tax that you may need to pay. This will be separate from your property taxes and varies from state to state.

You’ll also need to pay for title insurance, which is insurance protecting the buyer from any title problems. You’ve also got escrow fees to pay. Usually, both the buyer and the seller pay half of these fees.

How Exactly Does the Closing Process Work?

A big part of selling a house is the closing process. This process can take several weeks. The exact length of time it will take depends on the buyer and how soon they’re able to get their loan approved.

When you do make it to your closing date, you’ll have to sign some documents with your real estate agent as well as a closing agent. The closing agent is a third party whose job is facilitating the sale of your home. When you sit down to sign these documents, there are a few things you’ll need to bring. This includes a valid government-issued photo ID, a cashier’s check for the closing costs you need to pay, all keys for your home, and any access codes that may be required for working things in your home. This includes things like thermostats or garage doors. The documents you’ll need to sign include the following:

The Affidavit of Title

This is a legal document that says you are the legal owner of the property you are selling. It will also disclose any legal issues that are related to yourself or your property.

The Deed

This document transfers the legal ownership of the property from you over to the buyer.

The Seller’s Closing Disclosure

This is an itemized list of all of the financials involved in the sale of your home. It will tell you how much money you’ve made from the sale as well as the closing costs that are owed and the amount owed to pay off the rest of the mortgage if you have not already paid it.

The seller’s closing disclosure will also tell you how much money you’ll be receiving after all of these costs are taken off.

The Bill of Sale

If you are leaving anything inside the house once you’ve sold it, the bill of sale will list it. This includes items like appliances as well as furniture.

The Loan Payoff

This document will detail the amount of your final mortgage payment. This will also list any prepayment penalties.

Statement of Closing Costs

At the time of closing the sale of your home, you will need to sign a statement of closing costs. This simply acknowledges that you’re aware of the costs of selling your home and that you agree to them.

When Do You Get the Money from Selling Your Home?

When you get your money from selling your home depends on whether you live in a wet funding state or a dry funding state. Most states are wet funding states, and this includes Florida. However, if you live in Arizona, California, Hawaii, Alaska, Idaho, Nevada, Oregon, Washington, or New Mexico, you live in a dry funding state.

Wet Funding States

If you live in a wet funding state like Florida, then the money for the sale of your home will be available as soon as the buyer has sold all of the loan documents. States like this are called wet funding states because the money is available as soon as the documents are signed, while the ink is still wet on the page.

This means that if you live in one of these states, you can get paid for the sale of your home on closing day. By this point, the lender will already have sent the funds to your closing agent after verifying all of the buyer’s documentation.

Dry Funding States

Living in a wet funding state means you get paid as soon as the sale is closed. But if you live in a dry funding state, you might need to wait a little bit longer to get your money. This is what the “dry” in the term dry funding states refers to. The ink will be dry on the page by the time your money from the sale is available.

The amount of time you need to wait for your funds to be available will vary. You might need to wait up to four days before you’re able to get the money, which can cause some issues if you don’t think about the time between your funds becoming available and the sale date of your new home. However, if you live in one of these states, there are some resources available to you in cases like these.

Work With the Best Real Estate Agent

Whether you’re buying or selling your home, working with a qualified, experienced, and passionate real estate agent is key. Our team is ready to help you get the most out of your home buying or selling experience. Get in touch with David Dorman in Ocoee, FL today to get started.


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