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The phrase "proceeds of selling" is grammatically correct and can be used in written English.
It is commonly used to refer to the profits or income gained from selling something. Example: The proceeds of selling our old car were enough to cover the down payment for our new one.
Exact(23)
The heavily trailed "green infrastructure fund" will use £1bn from the proceeds of selling off the Channel Tunnel rail link.
By increasing the density on the sites, and using the proceeds of selling the extra houses built, it ought to be possible to cover the cost of reconstruction.
According to Van Hoogstraten's rags-to-riches story, he founded his empire as a teenager, buying cheap property with the proceeds of selling his stamp collection.
The loan must be repaid through subsequent special assessments on the banks or from the proceeds of selling failed-bank assets.
On my travels I have yet to met anyone who intends using the proceeds of selling a bond to a national central bank to put monies on deposit in, say, the Greek banking sector.
Turplin Dixon, a railway engineer in London, was able to buy a 15-year-old Bristol 603 from the proceeds of selling another Bristol he had inherited from his uncle.
Similar(37)
The judge also walked back another provocative statement he had made, saying he "felt terrible" that he had wrongly accused Mr. Flynn earlier in the proceeding of selling out his country by simultaneously working as a foreign agent for Turkey and Mr. Trump's national security adviser.
The company, which competes with Cisco and I.B.M., also routed a chunk of the proceeds to selling shareholders.
These include a clause saying that the proceeds of art sold must be used to buy more art.
By the same token, the petitioners' argument that the Government failed to account for the proceeds of stock sold by them before the starting date must also fail.
Where, for instance, a bailiff had failed to account for rents collected, or a person had neglected to remit the proceeds of goods sold for the account of another or had failed to pay over money received from a third person for another's use, the injured party was accorded protection by the "cumbersome" action of account.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com