The Selling Process
Seller's Net Sheet & Seller's Costs
A seller’s net sheet estimates how much you may receive from selling your home after accounting for your mortgage payoff, closing costs, and other expenses.
Our seller’s net sheet worksheet helps you estimate these costs in detail. Use it as a planning tool, not a final payoff or closing statement. Actual costs depend on your contract, property, mortgage, and title company.
Understanding the Seller’s Net Sheet
The worksheet includes estimated costs for selling a typical single-family home in Texas. You can update the highlighted cells with information specific to your transaction. Some fields contain estimates, while others require details about your current mortgage and property.
Review the assumptions below when completing the worksheet. If you’re unsure about an amount, confirm it with your Realtor, title company, or mortgage servicer.
Estimating Seller’s Closing Costs
Depending on your contract and transaction, seller expenses may include title-related fees, document preparation, recording charges, and other settlement costs. Sellers may also agree to pay certain buyer expenses, such as the owner’s title policy, a survey, or a home warranty.
The title company can provide a transaction-specific estimate. Who pays each cost depends on the purchase contract, local practices, and the terms negotiated by the parties.
Reviewing the Worksheet’s Assumptions
Understanding the Title Policy
In Texas, sellers often pay for the owner’s title policy in existing-home transactions, but this is negotiable. Responsibility may differ for new construction and other transactions. Review your contract to see which party is responsible.
Accounting for the Property Survey
The worksheet assumes you may need to pay for a new survey. If you already have a survey, the title company and other parties involved will determine whether it can be accepted for the transaction.
Read Why a Mortgage Lender Won’t Use Your Survey for more information.
Considering a Home Warranty
A seller may agree to pay for a home warranty, but this is not required in every transaction. Costs and coverage vary by provider and plan, so adjust the worksheet estimate to reflect your situation.
Accounting for Your Current Escrow Account
If your current mortgage includes an escrow account, any remaining funds may be refunded after your loan is paid off. The timing and handling depend on your mortgage servicer. In some cases, escrow funds may be accounted for as part of the payoff instead of being refunded separately.
Estimating HOA Dues and Mortgage Interest
If you have prepaid homeowners association (HOA) dues, the closing statement may include an adjustment between you and the buyer, depending on the contract and applicable rules.
Your mortgage payoff may also include interest accrued through the payoff date. Because mortgage interest is generally paid in arrears, the payoff amount can differ from the principal balance shown on your most recent statement. Request a current payoff statement from your mortgage servicer for a more accurate estimate.
Estimating Your Final Proceeds
The worksheet estimates what may remain after the mortgage payoff and applicable selling costs. Your final proceeds will depend on the actual payoff amount, negotiated expenses, prorations, and other charges shown on the closing statement.
Your mortgage servicer handles any applicable escrow refund separately unless those funds are accounted for through the payoff process.
Planning Your Next Home Purchase
If you’re selling your current home and planning to buy another, understanding your estimated proceeds can help you prepare for the next step.
Explore our Getting Started: Qualifying for a Mortgage guide to learn about preparing for a home loan.