Virginia seller net sheet and closing costs

In Virginia, the seller usually pays the agent commission, their own loan payoff and the grantor's tax. The buyer usually pays the lender fees, the lender's title policy, the state recordation tax on deed (grantee) and the owner's title policy. Each side pays its own settlement or escrow fee.

The buyer usually pays for the owner's title policy in Virginia. In Virginia, each title insurer files its own rates. So prices differ between title companies. The net sheet uses typical rates. The title company that runs the closing gives the final quote. A title company or attorney usually handles the closing.

Seller pays the grantor's tax (plus regional fees in Northern Virginia and Hampton Roads) and deed preparation; buyer pays recordation taxes and title.

NetSheet.org is not tied to any title company. The net sheet works with any title or escrow company. See how it compares with title company net sheet tools.

Each side pays the taxes for the days it owns the home. Property taxes in Virginia are paid in arrears, after the period they cover. So the seller usually credits the buyer for unpaid days up to closing. Taxes run about 0.9% of the home's value per year. Most localities bill the calendar year in two halves (e.g., Fairfax due Jul 28 and Dec 5), each covering the preceding half-year; seller credits buyer for unpaid days.

• law.lis.virginia.gov

Checked 2026-09-30. A net sheet is an estimate. It is not a closing statement or tax advice. The title or escrow company gives the final figures. See a rate that looks wrong? Email [email protected].