Dictionary of Business Terms: resale proceeds
resale proceeds
amount a former owner receives upon a sale after paying transaction costs, remaining debt, and, sometimes, income taxes; same as proceeds from resale.
Dictionary of Real Estate Terms: resale proceeds
resale proceeds
the amount a former owner receives upon a sale after paying transaction costs, remaining debt, and, sometimes, income taxes. Same as proceeds from resale.
Example: Table 47.
| TABLE 47 | ||
| RESALE PROCEEDS | ||
| Selling price | $100,000 | |
| Less:Commissions | $5,000 | |
| Closing costs | 1,000 | |
| Unpaid mortgage | 60,000 | |
| Capital gains tax | 14,000 | - 80,000 |
| Resale proceeds | $20,000 |
