Your house could sell for $400,000.”

That sentence feels like good news — and usually it is. But the sale price is not the number that lands in your bank account.

The number that matters when planning your next move is your net proceeds: what you actually walk away with after every expense connected to the sale has been paid.

That is where a net sheet comes in.

If you’re thinking about selling, moving, buying another home, or simply trying to understand your financial picture, a net sheet is one of the most important documents to review before you list.

What Is a Net Sheet?

A net sheet is a worksheet that estimates what a seller will receive after closing costs and other expenses are deducted from the sale price.

It starts with your expected sale price and subtracts items such as:

• Mortgage payoff
• Real estate commissions
• Transfer taxes
• Title and settlement fees
• Buyer credits or negotiated repairs
• Liens or outstanding charges

The final number is your estimated net proceeds — the amount you can expect to take home.

A good agent prepares this before you list so you understand your numbers upfront.

A great agent updates it after you receive an offer using the actual contract terms and closing figures.

Walking Through a Sample Net Sheet

Let’s look at a hypothetical Pittsburgh-area sale.

Estimated Sale Price: $400,000

The numbers below are examples only. Your actual proceeds depend on your mortgage balance, municipality, taxes, negotiations, and closing details.

1. Start With the Sale Price

Everything begins with your expected sale price.

For this example:

Sale Price: $400,000

This is the number you see online, in marketing, and on your listing paperwork — but it is not your final payout.

2. Subtract Your Mortgage Payoff

One of the biggest items on your net sheet is your remaining mortgage balance.

This is not your monthly payment.

It is the full amount needed to pay off your loan at closing, including any interest that has accrued through the payoff date.

Example:

Mortgage Payoff: $180,000

After paying off the mortgage, that amount is removed from your proceeds.

3. Subtract Real Estate Commission

Real estate commission is negotiated between the seller and their agent.

This typically covers the services involved in marketing, negotiating, coordinating the transaction, and compensation related to the sale.

Because commission structures vary, this line item should be reviewed directly with your agent before listing.

4. Subtract Pennsylvania Transfer Tax

Pennsylvania has a real estate transfer tax, which is generally split between the buyer and seller.

The exact amount depends on where your home is located.

A property in one Pittsburgh suburb may have a different transfer tax calculation than another nearby municipality, so this should be based on your specific property — not a generic percentage.

5. Subtract Title and Settlement Fees

These are costs related to completing the closing process.

Common examples include:

• Owner’s title insurance
• Settlement fees
• Recording-related costs

These are typically smaller compared to commission or mortgage payoff, but they still affect your final proceeds.

Your title company can provide a more exact estimate once you are under contract.

6. Subtract Buyer Credits or Negotiated Repairs

This is where many sellers are surprised.

During negotiations, you may agree to:

• Pay part of the buyer’s closing costs
• Provide a repair credit
• Adjust the purchase price after inspections

Those amounts come directly out of your proceeds.

For example:

A $400,000 offer with a $10,000 buyer credit does not equal the same net proceeds as a $400,000 offer with no credits.

7. Subtract Outstanding Liens or Charges

Before closing, certain obligations must be paid.

These could include:

• Home equity lines of credit
• Contractor liens
• Unpaid municipal charges
• Water or sewage balances
• Code violations

Checking for these early helps prevent last-minute surprises.

The Final Number: Your Estimated Net Proceeds

After everything is deducted, what remains is your estimated walk-away amount.

This is the number you should use when planning:

• Your next home purchase
• Your down payment
• Paying off debt
• Moving expenses
• Your overall financial timeline

The sale price tells you what the buyer pays.

The net sheet tells you what you actually keep.

Why Your Net Sheet Changes Over Time

Your first net sheet before listing is based on estimates.

It may use:

• Expected sale price
• Approximate mortgage payoff
• Estimated closing costs

Once you have an accepted offer, your net sheet should be updated using:

• Final contract price
• Actual mortgage payoff statement
• Negotiated terms
• Final credits or concessions

The goal is to get as close as possible from the beginning — but your final number may shift slightly.

Common Seller Mistakes With Net Sheets

Planning Around the Sale Price Instead of the Net

This is one of the biggest mistakes sellers make.

A seller may think:

“I’m selling for $400,000, so I have $400,000.”

But after paying off the mortgage and closing costs, the actual proceeds may be very different.

Using a Generic Percentage Estimate

You may hear:

“Closing costs are usually around X%.”

That can be a starting point, but every seller’s situation is different.

Your mortgage balance, municipality, and contract terms all matter.

Forgetting Property Tax Adjustments

Property taxes are often prorated at closing.

Depending on when you sell, you may owe a credit to the buyer or receive a credit.

This should be reflected in your final numbers.

Not Updating After Negotiations

If you accept a price reduction or agree to repairs after inspection, your net sheet needs updated.

Small changes can affect what you actually walk away with.

Why a Net Sheet Matters Before You List

Knowing your expected proceeds before putting your home on the market gives you control.

It helps you answer important questions:

• Can I afford my next home?
• How much money will I have available?
• Does this offer actually make sense?
• Would a different offer structure net me more?

A strong selling strategy is not just about getting the highest price.

It’s about understanding the full financial picture.

Want a Net Sheet for Your Home?

The Matt Durbin Team prepares seller net sheets using your actual situation — including your mortgage payoff, property location, estimated costs, and realistic expectations.

Knowing your numbers before you list helps you make confident decisions from day one.