What Is a Seller Net Sheet?

What goes on a net sheet

Every net sheet has the same three sections, even if the formatting differs:

Section 1: Sale price (and any credits in your favor)

The agreed (or proposed) sale price goes at the top. A few items can sit on this side too: a property-tax credit if your state collects in arrears and you've prepaid, an HOA-dues credit if you're paid ahead, and any negotiated buyer-to-seller credits.

Section 2: Costs subtracted from the sale price

• Agent commission. Listed first because it's usually the largest. Often shown as a single combined percentage or broken into listing-side and buyer-side lines.
• Transfer / excise tax. State, county, and city where applicable.
• Title and escrow charges. Owner's title insurance (if seller-paid in your state), the settlement or escrow fee, and smaller title-related fees.
• Recording fees and tax stamps. Government fees for recording the deed and release of mortgage.
• Attorney fees. Where attorney closings are the norm.
• HOA / condo charges. Estoppel letter, transfer fee, and any prorated dues owed.
• Property tax proration. Days you owned during the current cycle that haven't been paid.
• Seller concessions. Credits toward buyer's closing costs, repair credits, home warranty, etc.
• Mortgage payoff. Principal balance plus accrued interest to the payoff date, plus any payoff or reconveyance fee. Includes second mortgages and HELOCs.

Section 3: Estimated net proceeds

Sale price plus credits, minus all costs and the mortgage payoff, equals your estimated wire amount at closing. This is the number that matters — what actually hits your bank account.

A simple worked example

Imagine a $500,000 sale in a moderate-cost state with a 5.5% combined commission, a $500/$100,000 transfer tax customarily paid by the seller, seller-paid owner's title insurance of about $1,800, $1,200 of settlement and recording fees, no concessions, and a $250,000 mortgage payoff.

• Sale price: $500,000
• Commission (5.5%): -$27,500
• Transfer tax: -$2,500
• Owner's title insurance: -$1,800
• Settlement, recording, misc: -$1,200
• Mortgage payoff: -$250,000
• Estimated net proceeds: $217,000

That's a net of roughly 43.4% of the sale price — typical for a sale with significant equity in a mid-cost state. Change any input (price, commission, mortgage payoff, state) and the bottom line moves with it.

How a net sheet differs from a closing disclosure

A net sheet is an estimate, usually prepared before or during the transaction. A closing disclosure (or settlement statement, or ALTA statement) is the final, legally required document prepared by the title or escrow company a few days before closing. The closing disclosure has the actual fees from each provider, the actual prorated amounts, the actual payoff figure good through the closing date, and the actual wire amount.

A well-built net sheet should land within a few hundred dollars of the final closing disclosure. Two line items account for almost all the variance:

• Property tax proration. Net sheets prepared early in the year often use estimates that don't match the county's actual figures at closing.
• Mortgage payoff. Daily interest accrues until the payoff is received, so a payoff figure for next Friday is different from one for two weeks out.

When to run a net sheet

Three points in the timeline benefit most from running the numbers:

• Before listing. At your target price, what do you actually take home? If the answer is short of what you need to buy your next house, you've learned that before listing instead of after.
• When evaluating offers. Two offers at different prices, with different concessions, different closing dates, and different financing types do not always rank in the obvious order. Net them out.
• Once the contract is signed. Run a final estimate with the agreed terms so the closing disclosure isn't the first time you see a real number.

How our calculator works as a net sheet

Our home seller net proceeds calculator is, at its core, a seller net sheet. It asks for a sale price, your mortgage payoff, commission percentages, and any concessions; it fills in state-customary defaults for transfer tax, title custom, and typical closing costs; and it gives you a one-screen view of what's left. Try it for your state — for example the California calculator or the Texas calculator — or read our companion guide on seller closing costs for a deeper look at each line.

What to do with the number

Compare it to two things: the cash you actually need from this sale (down payment on the next home, debt payoff, moving costs, reserves), and the price-minus-costs floor you're willing to accept on a negotiation. If your net sheet's bottom line meets both, you have a price you can defend through negotiation. If it doesn't, you either need a higher list price, lower costs (a lower commission, fewer concessions), or a different strategy altogether.