Let’s say I buy a house for $200K and a year later sell it for $225K without a realtor.
How would be my expenses for seller closing costs, tax gains etc… Just a ball park number
Realitors in my area get 6% of selling price and I belive if you live in the property for 2 years there is no Tax on capital gain.
No realtor…
what would be the profit after tax on capital gain if I owned the house for a year?
Bought it for $200K and sell for $225K
Hard to say, unless someone is familiar with your market area.
Is it owner occupied or an investment?
OO for 2 years, there would no taxes on it at all.
Investment, you’ve got long term cap gains and/or depreciation recaputure.
As to closing costs, it depends.
Who usually closes in your area, title companies or attornies? What do they normally charge? Here, it’s around $450
Seller’s closing costs vary with area, but typically they will be from 1-5% of the total sale price.
Raj
It would be an investment property. Usually title companies. I’m not sure what they normally charge. I was just looking for a ball park of what could be the actual profit.
if you are looking for a ball park I would offer these est. #'s
equity $25k
closing cost aprox 2% -$4500
capital gains tax 15% - $3750
profit $16750 give or take
dun-deel
Welcome dun-deel
Thank you! That’s what I wanted to know.
That is just about what I came up with! 16,700
What about the Realtor?
Equity 25K
6% Comm 13.5K
2% CC 4.5K
Capital Gain 7k
Tax 1,050
After Tax Profit 5,950
:-\
I’m trying to come up with some numbers and not include a realtor. I would try and sell it myself.
thanks for the welcome you were my first post, I have been taking in alot of useful info on this forum and decided to participate.
there’s alot of good, knowledgeable people on this forum
Good luck
dun-deel
Unless you’re experienced in selling houses yourself (ie, you can market it so that it’ll get top dollar), you probably should include the costs of a RE agent in your figures.
FSBO’s generally take longer to sell than MLS marketed properties, if they sell at all. Also, in most cases, the prospective buyers deduct what a normal commission for a RE agent would be from your price when they make an offer.
Just thoughts to ponder,
Raj
My realtor said she won’t participate in the sale of an FSBO. She ends up doing all the paperwork that a realtor must do then it leaves her more exposed to any legal issues that may come up down the road because there’s no other realtor doing their side of the paperwork. She will tell her clients about the house though.
Have a attorney overlook the contract! It is cheaper then a realtor!
I really hate to say this… :-[
You could always use a discount broker. 
There is a compromise. We just sold a house FSBO in 41 days. We used a For Sale By owner sign we bought at Home Depot and wrote in bold letters “Agents Protected” above the phone number. This turned out to be the best of both worlds because we got the bargain hunters, as well as licensed brokers bringing in serious buyers. In the end we sold it to a young couple who were looking at another MLS listed house in the neighborhood. The realtor was paid 3% per our agreement. Our plan was to list it through a discount listing service at 45 days, but we sold it before then.
…
Just remember that a lot can happen in 1 or 2 years. Something minor such as an appliance can break, or worse, you can have a roof issue, flood, HVAC or electrical problems. These major problems can all but wipe out your small profit.
You you decide that you still need help selling your property you could also get it listed at a flat fee in MLS with New Vision Real Estate out of Colorado Springs, Colorado (www.fsbofriend.com) :
30 days-$39
60 days-$199
120 days-$249
You would need to agree to pay the Transaction or Buyer Broker’s fee of 1%-3% commission for preparing the contract. The higher the % the better changes of getting it sold quicker.
I have had a very positive experience while listing my parents house with the above agency and the house went under contract in 3 days from the moment it was MLS listed with the right price and picture. 
Why did your put the words “Agents Protected” ? I am assuming it means that agents are also welcome?
Whenever I sell my next house I will sell on my own, I will not use a broker… Sold one this year and the agents got far too much of my money and I did most of the work anyway. I will hold an open house and see how it goes.
Thanks