Own Luxury Homes®

Seller Net Proceeds: What You Actually Keep

Net proceeds = sale price − mortgage payoff − selling costs (8–10% with commission). Payoff > balance (per-diem interest ~$45/day on $250K); request payoff statement not balance. Capital gains exclusion: $250K single / $500K married (2-of-5-year rule). Title company wires net 1–2 business days post-closing. Own Luxury Homes® 12-Point Agent Integrity Audit™ — net sheet built before you list.

Seller Net Proceeds: What You Actually Keep When You Sell

8–10%

Total seller costs as % of sale price including commission

Payoff ≠ balance

Your mortgage payoff is higher than your balance — it includes per-diem interest

$250K/$500K

Capital gains exclusion: $250K single / $500K married on a primary residence

Net sheet

The line-by-line calculation that turns sale price into the money you keep

The sale price is not what you keep. Net proceeds — the money that actually hits your bank account — is the sale price minus your mortgage payoff and all selling costs. Every net-proceeds calculator online routes you to a lead-capture product. This page gives you the complete line-by-line net sheet so you can calculate exactly what you keep, including the payoff-vs-balance distinction most sellers miss and the capital gains rules that may or may not apply.

THE OWN LUXURY HOMES® DIFFERENCE

Every agent in our network has passed the 12-Point Agent Integrity Audit™. No flat-fee product to upsell. No cash offer to lowball you. No staging service to sell. Pure seller representation — honest guidance on how to net the most from your sale.

Talk to an audited listing specialist ›

The Complete Seller Net Sheet

Line Item	Example ($400K Sale)	Notes
Sale price	$400,000	The headline number — not what you keep
Mortgage payoff	−$250,000	Includes remaining balance PLUS per-diem interest to closing date
Listing agent commission (3%)	−$12,000	Negotiable; varies by agent and market
Buyer-agent commission (2.5%)	−$10,000	Negotiable post-NAR-settlement; most sellers still offer
Transfer / excise tax	−$0–$8,000	Varies dramatically by state ($0 in TX/IN; 1–2% in PA/DE)
Owner’s title insurance	−$0–$2,500	Seller-paid in some states, buyer-paid in others
Prorated property taxes	−$1,000–$3,000	Your share of taxes through the closing date
Escrow / settlement fee (seller share)	−$500–$1,500	Split varies by state and custom
Buyer concessions / repair credits	−$0–$8,000	If negotiated after inspection
HOA transfer fee (if applicable)	−$0–$500	In HOA communities
ESTIMATED NET PROCEEDS	~$112,000–$126,000	The money you actually keep
This is the only number that matters for planning your next move. Total selling costs (excluding mortgage payoff) typically run 8–10% of sale price with commission, 1–3% without. Your specific net depends heavily on your state’s transfer tax and title custom.

The Payoff vs Balance Distinction Most Sellers Miss

Your mortgage payoff is not the same as your current balance. It is higher, for two reasons:

Per-Diem Interest

Mortgage interest accrues daily. Your last statement shows the balance as of that statement date. By the time you close, additional daily interest has accrued. On a $250,000 balance at 6.5%, daily interest is roughly $45/day. A closing 20 days after your statement date adds ~$900 to the payoff.

Why You Request a Payoff Statement, Not a Balance

Always request an official PAYOFF STATEMENT from your lender, not just your balance. The payoff statement gives the exact amount required to satisfy the loan on a specific date, including accrued interest and any fees. Using your statement balance instead of the payoff figure is a common reason sellers’ net estimates come in slightly high.

Capital Gains: When You Owe Tax on the Profit

Most home sellers owe no capital gains tax, thanks to the primary-residence exclusion. But the rules have specific requirements:

Filing Status	Capital Gains Exclusion	Requirement
Single	Up to $250,000 of gain excluded	Owned and lived in home 2 of past 5 years
Married filing jointly	Up to $500,000 of gain excluded	Both meet residence test; one meets ownership test
Gain above the exclusion	Taxed at long-term capital gains rate (0/15/20%)	Only the portion above the exclusion is taxed
Investment / non-primary property	No primary-residence exclusion	Full gain taxable; consider 1031 exchange
Gain = sale price minus selling costs minus your adjusted cost basis (original purchase price plus capital improvements). Most primary-residence sellers fall under the exclusion and owe nothing. Consult a CPA if your gain may exceed the exclusion or if the property was not your primary residence.

How and When You Actually Get Your Money

You do not write a check at closing for your selling costs. The title company or closing attorney deducts everything — mortgage payoff, commissions, taxes, fees — from your sale proceeds and wires you the net. Timeline: most sellers receive their net proceeds by wire within one to two business days of closing. Review your Closing Disclosure (or settlement statement) carefully before signing — verify the payoff amount, proration dates, and that no fees are duplicated.

“The number every seller should fixate on is net proceeds, not sale price. I build a net sheet for every seller before we list so they know what they will actually walk away with at different sale prices. The two things that surprise sellers most: the payoff is higher than their balance because of accrued interest, and the total selling costs are 8–10% with commission, not the 6% they expected. Know your net before you list — it is the number that determines whether your next move actually works.”

— Ryan Brown, Principal Broker & CEO, Own Luxury Homes®

How do I calculate my net proceeds from selling my house?

Net proceeds = sale price − mortgage payoff − selling costs. Selling costs (8–10% with commission) include agent commissions, transfer taxes, title insurance (in some states), prorated property taxes, escrow fees, and any buyer concessions. Example: $400,000 sale, $250,000 payoff, $28,000 costs = ~$122,000 net.

Why is my mortgage payoff higher than my balance?

Mortgage interest accrues daily. Your statement shows the balance on the statement date; by closing, additional per-diem interest has accrued (roughly $45/day on a $250,000 balance at 6.5%). Always request an official payoff statement, not just your balance, for the exact figure.

Do I have to pay taxes when I sell my house?

Most primary-residence sellers owe no capital gains tax. The exclusion is $250,000 of gain (single) or $500,000 (married filing jointly), if you owned and lived in the home 2 of the past 5 years. Only gain above the exclusion is taxed. Investment properties have no primary-residence exclusion. Consult a CPA if your gain may exceed the exclusion.

When do I get my money after selling my house?

The title company or closing attorney deducts all costs from your proceeds and wires you the net, typically within one to two business days of closing. You do not write a check for selling costs — they come out of the sale proceeds. Review your Closing Disclosure before signing to verify all amounts.

Related Guides

Own Luxury Homes® — audited listing specialists who build your net sheet before you list, so you know exactly what you keep. 12-Point Agent Integrity Audit™. Talk to an audited listing specialist ›

"The introduction Own Luxury Homes® makes is to a specialist with documented closing history in your specific market — not the county, not the metro, the submarket you're actually selling or buying in. That's the standard we verify before your name goes anywhere."

— Ryan Brown, Principal Broker & CEO, Own Luxury Homes® (FL License BK3626873)