Michigan seller net sheet calculator
What a Michigan seller walks away with after commission, payoffs, title, and transfer taxes. Rates and closing customs below are verified for Michigan; the calculator applies them for you, down to the county.
- State transfer tax
- $3.75 per $500
- Owner's title policy
- Seller pays
- Seller costs on $400,000
- About $25,405
Michigan transfer tax
Michigan charges the state real estate transfer tax of $3.75 per $500, customarily paid by the seller. On top of that, 1 county or city transfer tax applies in parts of the state; the calculator adds them when you choose the county.
| Tax | Level | Rate | Customarily paid by |
|---|---|---|---|
| State real estate transfer tax | State | $3.75 per $500 | Seller |
| County real estate transfer tax | County | $0.55 per $500 | Seller |
| Sale price | Seller pays | Buyer pays | Total |
|---|---|---|---|
| $250,000 | $2,150 | $0 | $2,150 |
| $500,000 | $4,300 | $0 | $4,300 |
| $1,000,000 | $8,600 | $0 | $8,600 |
Example Michigan seller net sheet
A $400,000 sale with a 5% commission and a $250,000 mortgage payoff. Seller closing costs come to about $25,405, or 6.4% of the price.
| Line | Seller |
|---|---|
| Sale price | $400,000 |
| First mortgage payoff | −$250,000 |
| Real estate commission (5%) | −$20,000 |
| State real estate transfer tax | −$3,000 |
| County real estate transfer tax | −$440 |
| Owner's title insurance policy | −$1,540 |
| Settlement / closing fee | −$350 |
| Release / satisfaction recording | −$30 |
| Wire / courier / payoff processing | −$45 |
| Estimated net before property tax prorations | $124,595 |
Run it with your own numbers. Choose the county to add local taxes, and enter the closing date to prorate property taxes.
Who pays what in Michigan
Seller pays the owner's policy. Closings are usually handled by a title company. The settlement or escrow fee is paid by each side for its own closing.
Seller pays both transfer taxes and the owner's policy; buyer pays lender's policy and mortgage recording.
Property tax prorations
Property taxes are paid in advance on a tax year starting in July. The typical effective rate is about 1.4% of value per year. Summer (Jul 1) and winter (Dec 1) bills. Most of Michigan prorates as if taxes are paid in advance for the 12 months following the bill (due-date method); seller is credited for prepaid months. Some areas use the calendar-year method.
Sources
Verified 2026-09-29. A net sheet is an estimate, not a closing statement or tax advice. Final figures come from the title or escrow company. See a rate that looks wrong? Email [email protected].
Michigan net sheet questions
Does Michigan have a real estate transfer tax?
Michigan charges the state real estate transfer tax of $3.75 per $500, customarily paid by the seller. On top of that, 1 county or city transfer tax applies in parts of the state; the calculator adds them when you choose the county.
How much is the transfer tax on a $500,000 home in Michigan?
With no county or city chosen, the transfer tax on a $500,000 sale is about $4,300, customarily paid by the seller. Some counties and cities charge a different or additional rate.
How much are seller closing costs in Michigan?
On a $400,000 sale with a 5% commission, estimated seller costs in Michigan come to about $25,405 (6.4% of the price), including $20,000 of commission. Without commission, closing costs are about $5,405. Local taxes, the payoff, and property tax prorations change the final number.
Who pays for title insurance in Michigan?
Seller pays the owner's policy.
Who handles the closing in Michigan?
Closings are usually handled by a title company.
How are property taxes prorated when selling a home in Michigan?
Property taxes are paid in advance on a tax year starting in July. The typical effective rate is about 1.4% of value per year. Summer (Jul 1) and winter (Dec 1) bills. Most of Michigan prorates as if taxes are paid in advance for the 12 months following the bill (due-date method); seller is credited for prepaid months. Some areas use the calendar-year method.
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