How can I determine how much cash I will walk away with from the sale?

That's a good question - in fact, two good questions. During your listing appointment, your agent will help you set a listing price for the property. Based on that price, your agent will be able to give you an idea of your expected expenses and your estimated proceeds - or net "walkaway" cash.

Your agent begins with the sales price and then subtracts anticipated costs, such as any mortgage payoff penalty, any discount points - interest prepaid to the lender - which you have agreed to pay, settlement fees, taxes, broker's commissions and, typically the largest of all, paying off the old mortgage balance. Your agent then may add in any anticipated prepaid tax reimbursement or escrow reimbursement. The bottom line is your net cash.

Remember this exercise is only a ballpark figure based on estimated costs and sales price. Any changes in the figures will affect the bottom line on the actual sale.