Seller Net Sheet: What It Is and How to Use It

Sellers think about their home in one number: what they'll walk away with. List price matters to them, but what they're really asking is "how much will I have after closing?" A seller net sheet answers that.

Plenty of agents only produce one when the seller asks. Bring it unprompted and you look prepared at the listing appointment, and you head off surprises at the closing table.

What is a seller net sheet?

It's a one-page estimate of what a seller will take home from a sale. You start with the sale price, subtract every expected cost and payoff, and end with the estimated amount the seller receives at closing.

It is an estimate. The final numbers come from the settlement statement prepared by the title or escrow company. A good net sheet gets the seller close enough to decide whether to sell, what price to accept and what they can afford in the next home.

What goes on a seller net sheet?

Line items vary by state and by deal. Most net sheets include:

1. Sale price. Use the list price at the appointment, or the offer price when you're reviewing offers.
2. Mortgage payoffs: first mortgage, second mortgage, home equity line. Use the lender's payoff figure, not the balance on the last statement, since a payoff includes interest through the payoff date.
3. Commissions. That's listing broker compensation plus any buyer-broker compensation the seller agrees to pay. Commissions are negotiable and are set in your listing agreement.
4. Title and closing costs, such as the owner's title policy (where the seller customarily pays), settlement or escrow fees and recording fees.
5. Transfer taxes. State, county or city taxes on the transfer, where they apply. In some areas they're a big number.
6. Property tax proration: taxes owed up to the closing date, or a credit if the seller prepaid.
7. HOA dues and fees, including prorated dues, transfer fees and resale certificate costs.
8. Seller concessions, meaning closing cost or repair credits negotiated with the buyer.
9. Repairs and prep. Pre-listing repairs, staging, cleaning and any repairs agreed to after inspection.
10. Other liens or payoffs, like judgments, solar leases or loans, and special assessments.

The last line is the estimated net proceeds.

How to fill out a net sheet accurately

Get real payoff numbers. Ask the seller for their latest mortgage statements early, and tell them the lender's payoff figure will come in a little higher than the statement balance.

Use local cost data. Title, escrow and transfer tax figures should come from the title or escrow company you work with, because local customs on who pays what vary a lot.

When you're unsure, estimate costs slightly high. A seller who nets a little more than expected is happy. One who nets less is not.

Show more than one price. A net sheet at list price, at 2% below and at 4% below lets a seller see what a negotiation costs them in dollars.

And label it as an estimate, with a line stating that the figures are estimates and the final settlement statement controls.

When to use a seller net sheet

The first time is at the listing appointment. After you walk through the CMA and suggest a price, show the net at that price. The conversation moves from "what's my home worth?" to "what will I walk away with?", and the second question is the decision the seller is making.

Bring one per offer when you're reviewing offers. Two offers at similar prices can net out differently once you account for concessions, repair credits and closing dates, and side by side the seller can see it.

Use it when a seller pushes back on price. If they want to list well above the CMA, a net sheet at a realistic sale price keeps the discussion on numbers instead of opinions.

It helps when the commission comes up, too. Showing the full cost picture, including what a strong negotiation and a well-priced listing protect, puts the commission in context. See handling "your commission is too high".

How to walk a seller through it

1. Start with the sale price and explain that it comes from the CMA.
2. Go line by line, and slow down on the big items: payoff, commissions, transfer taxes.
3. Keep prorations simple: "You pay the taxes for the part of the year you owned the home."
4. Land on the net and ask: "Does that number work for your next move?"

Don't skip that last question. If the net doesn't cover their next down payment or their plan, you want to know now, before the home is under contract.

Common net sheet mistakes

• Using the statement balance instead of the payoff. The gap is small, but the seller notices it at closing.
• Forgetting transfer taxes or HOA transfer fees. They're easy to miss, and the seller will remember you missed them when they show up.
• Leaving out concessions. If buyers in your market routinely ask for credits, show a scenario with one.
• Presenting it as final. It's an estimate, so say so in writing.