How Much Equity Do I Need to Sell My Home in Southern California?

If you're planning to sell house in Southern California, understanding your equity is key. Whether you're downsizing, relocating, or just testing the market, knowing how much equity you have helps you make smart financial decisions. That’s where local expertise like Casey Brummer at Epique Realty comes in.

What Is Home Equity?

Home equity is the difference between your home’s current market value and the balance remaining on your mortgage. For example, if your home is worth $800,000 and you owe $500,000, you have $300,000 in equity.

What Equity Is Typically Needed to Sell

Here’s what you usually need equity for:

• - Paying off your remaining mortgage balance
• - Covering seller closing costs (2–3%)
• - Paying agent commissions (typically 2–5% in total)
• - Covering repair costs or buyer credits, if needed

Most Southern California sellers aim to have at least 10% equity to comfortably cover these expenses without bringing cash to closing.

A Quick Equity Example in Southern California

Let’s say you live in Riverside and your home is valued at $700,000. You owe $630,000 on your mortgage.

• - Sale price: $700,000
• - Estimated selling costs (7%): $49,000
• - Remaining mortgage: $630,000
• - Estimated proceeds: $21,000

In this case, your equity is low, and you’d walk away with just a small amount after closing. Casey Brummer can help you evaluate if selling now makes sense—or if waiting is better.

How to Calculate Your Equity

To get a rough estimate:

1. Find your current mortgage balance.
2. Request a home valuation from a local expert like Casey Brummer.
3. Subtract your mortgage from your home’s value.
4. Subtract estimated selling costs (5–8% of sale price).

What If You Don’t Have Enough Equity?

If your equity is too low to cover selling costs, you still have options:

• - Wait and build more equity by paying down your loan
• - Rent out your home instead of selling
• - Consider a short sale (only in extreme cases)

Casey Brummer can walk you through each of these options so you can decide what’s right for you.

Why Local Market Knowledge Matters

Home equity isn’t just about numbers—it’s about timing. The Southern California market fluctuates quickly. A home in Orange County might appreciate faster than one in the Inland Empire. That’s why working with a knowledgeable agent like Casey Brummer makes all the difference.

How Casey Brummer Helps You Understand and Maximize Your Equity

Casey Brummer doesn’t just run the numbers—he helps you understand your equity position clearly. He’ll review your mortgage, market conditions, and even offer tips to increase your property’s value before selling.

Talk to Casey Brummer About Your Home’s Equity

If you’re thinking about selling your home in Southern California, your equity position matters more than ever. Before making a move, contact Casey Brummer at Epique Realty for a free, expert home valuation and personalized guidance. He’ll help you determine your options and plan your next steps confidently.

📞 Ready to find out how much equity you have? Contact Casey Brummer today.