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"Do you personally receive all the profits when you sell your house in a real estate transaction?"

When you sell a house, you typically don't receive all the money at once - you receive the sale price minus closing costs.

Closing costs typically include real estate agent commissions, taxes, and other miscellaneous fees associated with the sale.

These fees vary depending on the location and value of the property.

The amount of money you actually receive from the sale of your house will also depend on any mortgage or other debt you have outstanding on the property.

You will need to pay off your mortgage balance in addition to any closing costs before you receive the net proceeds of the sale.

The money from selling a house can be used for various purposes, such as paying off debts, funding a new home purchase, or investing for the future.

When you sell a house, you get paid after you complete the closing process.

The exact timing of payment may depend on the terms of the sale and the specific procedures in the state where the property is located.

A wire transfer can take between 24 to 48 hours to process but is usually available in your account within one business day.

Meanwhile, a paper check could be available right at the time of closing but will need to be deposited and cleared and a bank can often hold that deposit for up to seven days.

In some states, known as "dry funding," sellers may not receive their money in the expected timeframe.

Closing costs can range from 5 to 15% of the sale price of the house, with an average of 8-10%.

Sellers have to pay out a decent amount of money to get their houses sold, just as they had to pay out money to buy it in the first place.

Home sellers may not keep all the money from the sale of their house - they may only keep around 60 to 70% of the sale price.

The remaining amount goes towards paying off the mortgage and closing costs.

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