What is a seller net sheet?

A seller net sheet (also called a seller's estimated net proceeds sheet) is a one-page estimate of the cash a seller receives at closing. It lists the sale price, subtracts every cost and payoff, and shows the estimated net at the bottom.

Listing agents use it to answer the first question every seller asks: what will I walk away with?

Net proceeds = sale price − commission − loan payoffs − seller closing costs − prorations owed − credits and repairs

Each piece depends on the sale. Commission is a percentage of the price. Payoffs come from the lender's payoff statement, including interest to the closing date. Closing costs and who pays them depend on the state and often the county.

• Real estate commission: listing and buyer's agent compensation, usually a percentage of the price.
• Mortgage payoffs: first mortgage, second mortgage, and any HELOC, plus interest through closing.
• Transfer taxes: state, county, and city taxes on the deed. They range from nothing (Texas, for example) to several percent of the price. See transfer taxes by state.
• Title insurance: the owner's policy is paid by the seller in some states and counties and by the buyer in others.
• Settlement or escrow fee: the closing agent's fee, often split between buyer and seller.
• Recording fees: the seller usually records the release of the old mortgage.
• Property tax proration: where taxes are paid in arrears, the seller credits the buyer for the days they owned the home; where paid in advance, the buyer reimburses the seller.
• HOA dues and transfer fees, if the home is in an association.
• Seller credits and repairs agreed to in the contract, and a home warranty if the seller offers one.

At the listing appointment, run the net at two or three prices so the seller sees what each list price means for them.

With every offer, run a new sheet. A higher offer with large seller credits or a later closing can net less than a lower, cleaner one.

Before closing, update the payoff and the closing date so there are no surprises on the settlement statement.

Most net sheet errors come from three places: an old payoff balance, the property tax proration, and local transfer taxes. Use the lender's payoff figure, the actual tax bill, and the right county. NetSheet's calculator applies the transfer tax and closing customs for the property's state and county automatically.