Your home equity is your personal financial investment in your home. It is your home’s fair market value, less any mortgage balances.
It is important to note that your home’s equity is different from your net proceeds. When you go to sell your house, you’ll have to pay closing costs on the transaction. These expenses are paid directly out of your equity, decreasing your total profit.
If you are considering selling and want to save thousands of dollars on closing cost, then contact your local realter of the Florida Keys - Jorge Gomez.