Seller’s Net Sheet
A seller’s net sheet estimates how much money you’ll net from the sale of your home. The seller’s net sheet is typically provided by the title company (via your Realtor) that will be closing your home loan; however, because we’re one of the best lenders in Dallas, we’re happy to have this worksheet as a resource for you. Edit the cells in blue and feel free to download this worksheet for your records. Be sure to also check out our New Listing Campaign if you haven’t already – it’s loaded with great tips on how to list your home for sale.
- Title Policy: we are assuming that your contract will have you, the seller, paying for the buyer’s title policy as this is very common for existing homes. New Construction, however, varies from builder to builder.
- Survey: for worst case purposes, we will assume that you don’t have a survey that the buyer can and you will incur the costs for a new survey. If you do have an existing, accurate survey then this cost can be reduced to zero. See Why A Mortgage Lender Won’t Use Your Survey” in our “Write a Lender-Friendly Contract” page.
- Home Warranty: we will assume that a home warranty will be paid for by the seller as this is fairly common. This costs can vary so feel free to update that amount in the calculator if you know it.
- Amount Held In Current Escrow Account: If you don’t have an escrow account then leave that section blank. If you do have an escrow account with your current mortgage then you’re entitled to an escrow refund. After closing the mortgage service will send you a refund (at your new address) for any unused funds that remain in your escrow account. This typically won’t arrive until 30-60 days after your closing.
The Seller’s Net Sheet below has a few hidden lines to simplify the process; however, you’re welcome to expand rows 9, 10, and 14 if you like.
- Prepaid HOA Dues (rows 9 and 10): if you’re not sure about this then leave it blank as it’s typically not much money. Just know that the buyer will reimburse you for any prepaid HOA dues.
- Per Diem Interest (row 14): mortgage payments are paid in arrears (i.e. the payment you have not yet made for next month is actually paying this month’s interest that is being accrued). Therefore, to determine your mortgage payoff you’ll need to add an estimated amount for per diem interest that will be added. The easy way, just add your monthly payment to this section.