How Much Does It Cost To Sell Your Home?
A question that you may have a tough time getting answered is, "How much will I get back after I close on my house?" There are two processes you can use to help determine what your costs will be.
1. In Indiana, an easy way to estimate what your closing costs will be is to deduct anywhere between 7-9% of the sales price. Expect to pay anywhere between 5%-7% of the sales price for commission. Of course, all of this is negotiable, I am just simply stating this as an example for this demonstration.
Then, you will want to estimate 1% for property taxes. Most people will estimate 1%, but if you are an owner who doesn't have the homestead exemption filed, then you may be at the 2% tax rate.
Lastly, estimate another 1% for general closing costs/title fees. These costs could be for title fees, closing fees, a land survey etc. To quickly estimate about what your net proceeds would be, you would simply take the sales price minus closing costs and minus your mortgage balance.
See example below:
2. The above example is just one way to quickly estimate what you would get back. If you would like a more accurate number, your agent should be able to prepare a Net Sheet for you. This will give you a better breakdown of the closing costs and property tax amount.
What Is a Net Sheet, Anyway?
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A net sheet is a breakdown of all the expenses and charges involved in your home sale. In simple terms, it takes the sales price and subtracts your loan balance, title fees, closing costs, and any other related expenses.
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Keep in mind that these charges can vary—each title company has its own fees, and every offer you receive may come with different terms and requests.
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Your agent will put all these numbers together to provide you with an estimated net value—the amount you can expect to take home from the sale. It's a good idea to have this prepared before you list your home so you can plan ahead with confidence.
Here is an example of what a Net Sheet looks like:
In this example, the Seller is getting back $57,848.64. So when we ran a quick estimate we had about 57k coming back to the seller, this shows the seller getting back just a little bit more in this scenario. (The figures above are just an example, not real data.)
Why Do I Need a Net Sheet?
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The first reason to have a net sheet prepared before listing your home is simple—it helps you decide if now is the right time to sell. After your agent runs a Comparative Market Analysis (CMA) to estimate your home's potential sales price, that figure can be plugged into the net sheet.
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If the estimated net proceeds are negative, it might be worth holding off on selling until market conditions improve. Having this breakdown upfront allows you to plan and prepare, rather than being caught off guard once your home hits the market.
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The second reason is to guide you when you receive offers. You may have a "bottom dollar" in mind—the minimum amount you're willing to accept. When offers come in, your agent can input the offer details into the net sheet to show exactly how much you’d walk away with. If the proceeds are below your threshold, you’ll know exactly how much to adjust your counteroffer to hit your goal. This way, you’re not blindly negotiating—you’re making informed decisions.
It's wild how many sellers list their homes without having a net sheet prepared. Wouldn’t you want to know what you’re walking away with after the sale?
Without understanding the typical closing costs and fees involved in selling, it’s tough to determine what an acceptable offer or sales price should be. A net sheet makes everything clearer, giving you peace of mind throughout the process.
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So what do you think? We would be happy to discuss any questions you may have or go over your pain points with you.
As always, if you have any questions about selling your home or Real Estate in general, We would be more than happy to answer those for you. We are a full service Real Estate Brokerage and love providing value upfront to our clients first!