When selling a house, the seller should prepare a seller's net sheet, to help them determine the selling price. If the seller is using a real estate agent, the agent should prepare the net sheet, or have the title company prepare one. The seller's net sheet calculates the cost of selling the property, and shows the seller approximately what the amount of their proceeds will be.
Begin with a selling price. The amount of the selling price will have a bearing on some of the costs, so begin with the amount you would like to sell the property for.
2
Calculate any commissions that will be paid to the real estate professional. Typically this will be a percentage of the actual sale price, although some real estate agents charge set fees. If it is a percentage, multiply that percentage by the sale price to determine the amount.
3
Ask the title company for the cost of the title insurance. Typically a seller will be required to buy a title policy for the buyer. This amount will vary according to the sale price of the property.
4
Check with the title company on any escrow fees, transfer fees, or other fees associated with selling the property.
5
Look at your property tax bill and find out if you will owe any back taxes at the time of the estimated close.
6
Contact your mortgage company, to find out what the payout on your loan will be on the date of the proposed close of escrow.
7
Add up the amounts from step 2 to step 6. If there are any other liens on the property, include those amount in the total. Add in any other real estate fees or taxes that might be applicable in your area. Subtract the total from the amount in step one. This should be the estimated net after the close of escrow.
A Realtor uses multiple listing services, or MLS, to showcase properties she represents for sale. An MLS-affiliated agent searches a local, regional...
