A seller's net sheet is an estimate of the money a home seller walks away with after the sale — the sale price minus the costs of selling. It lists the mortgage payoff, the agent commission, title and escrow fees, transfer and recording taxes, prorated property taxes, HOA fees, and any credits or concessions the seller agreed to. The listing agent usually prepares it, often with a title or escrow officer, before the home is listed and again when an offer comes in. It is not a valuation: a CMA estimates the price, an appraisal is a lender's value, and a net sheet starts from a price and subtracts the costs.
What goes on a seller's net sheet?
The lines fall into four groups. The sale price is the starting number. The payoffs come next: the first mortgage, any second mortgage or HELOC, and any lien that has to clear before the title transfers. Then the costs of the sale: the listing and buyer-agent commission, title insurance and escrow or closing fees, transfer and recording taxes, and attorney fees where a state uses them. The last group is the adjusting lines: prorated property taxes, HOA dues and any HOA transfer fee, and negotiated repairs or credits. Each line is an estimate. The mortgage payoff is not final until the lender issues it, and prorated taxes are not final until the closing date is set.
Who prepares it, and when?
The listing agent prepares the net sheet, and a title or escrow officer supplies the fee numbers the agent does not control. Two moments matter. Before the home is listed, so the seller knows what a given list price nets them, not just what it lists for. And when an offer arrives, so the seller can compare offers on what they keep rather than on the headline price alone. A net sheet that arrives only at closing is a surprise, not a tool.
Net sheet vs CMA vs appraisal
The three answer different questions. An appraisal, done by a licensed appraiser for a lender, supports a loan amount. A CMA, built by an agent from the homes a buyer would cross-shop, estimates what the home should sell for. A net sheet starts from a sale price and estimates the seller's proceeds after costs. A seller needs all three at different points: the CMA sets the price, the net sheet shows what each price is worth to them, and the appraisal confirms the value for the buyer's lender. The net sheet is the one that turns a price into a number the seller can spend.
A worked example
The table below is an illustrative example only. The numbers are made up to show the shape of the math; every line would be filled from the seller's own loan, taxes and the local fees before it means anything. Net proceeds are not a promise, and not a price.
| Line | Amount |
|---|---|
| Sale price | $450,000 |
| First mortgage payoff | −$280,000 |
| Agent commission (5.5%) | −$24,750 |
| Title insurance and escrow fees | −$2,500 |
| Transfer and recording taxes | −$500 |
| Prorated property taxes | −$1,200 |
| Seller credit to buyer | −$5,000 |
| Estimated net proceeds | $136,050 |
Illustrative example only — not a quote, not a guarantee, and not a price for any home. Costs, taxes and fees vary by state, county and loan.
Notice what the example shows: the seller who fixes on the $450,000 sale price is not looking at $450,000. They are looking at the net. When a seller asks "what do I walk away with," the honest answer is a net sheet with every line shown, not a single number. And when the question is "what price should I list at," that number comes from the pricing story, because net proceeds follow the price the market will actually pay.
Why it matters in a listing appointment
A seller who is anchored on a number from a home-value site is comparing sale prices. Show them the net at each price instead. At $440,000 their proceeds are one number; at $460,000 they are another, and the second assumes a buyer pays it. The net sheet turns a pricing argument into a comparison of outcomes. The sample pricing story shows the other half: at each list price, the odds of selling and the supply working against it. Put the two together and the seller sees both what they keep and what it costs them to wait.
FAQ
What is a seller's net sheet?
A seller's net sheet is an estimate of the money a home seller walks away with after the sale — the sale price minus the costs of selling, including the mortgage payoff, agent commission, title and escrow fees, transfer and recording taxes, prorated property taxes, HOA fees, and any negotiated credits.
Who prepares a seller's net sheet?
The listing agent usually prepares it, often with a title or escrow officer for the fee estimates. It is prepared before the home is listed and again when an offer comes in.
What is the difference between a net sheet and a CMA?
A CMA estimates the price — what the home should sell for. A net sheet starts from a price and estimates the proceeds after costs. A CMA answers what it is worth; a net sheet answers what the seller keeps.
Is a seller's net sheet exact?
No. It is an estimate. Some numbers, like the mortgage payoff and prorated taxes, are not final until closing. A good net sheet labels every line as an estimate and shows the assumptions behind it.
See the pricing story that sets the net.
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