When you want to sell your home, you are probably looking for someone who can qualify for a bank mortgage to buy your home, right?

Assuming you are successful in finding such a buyer, the costs of the sale will probably wipe out your equity, or profit on the sale.

The National Association of Realtors estimates that the average home sells for approximately 9% less than the asking price.

Take out 2%-3% for the seller paid closing costs, approximately 3% for the on-going costs of mortgage, taxes, insurance, maintenance and repairs for the 90-120 days between listing and closing, and you have lost at least 14% of the value of your home to the costs of selling!

Imagine having to subtract another 6% for the realtor!

If you are the average homeowner, you have less than 25% equity in your home, according to the National Association of Mortgage Bankers. Do the math and you will see that you will walk away from the sale of your home with virtually nothing, unless