Seller net proceeds calculator
What you'll take home at closing.
By Michigan custom, the seller pays real estate commission, state and county transfer tax, and the Owner's title insurance policy. This calculator estimates your net check after those deductions and your mortgage payoff. Enter your numbers below for a live estimate.
Ready for a written net sheet?
Email the purchase agreement to orders@miallegiancetitle.com and we'll send back a formal net sheet.
Inputs
Tell us about the sale.
Enter $0 if the property is owned free and clear.
Credits agreed to help the buyer cover closing costs. Enter $0 if none.
Estimate
Estimated net proceeds
After all deductions below
$123,180
Sale price
$350,000
Real estate commission
6% of sale price
($21,000)
Mortgage payoff
($200,000)
State transfer tax
$3.75 per $500
($2,625)
County transfer tax
$0.55 per $500
($385)
Owner's title insurance
First American filed rate
($2,200)
Allegiance closing fee
($425)
Document preparation
($150)
Wire fee
($35)
Total deductions
($226,820)
Estimate only
This figure is an estimate based on customary Michigan seller costs and First American filed rates. Your Closing Disclosure is the authoritative document for exact figures. Proration of property taxes is not included in v1 of this calculator.
Commission, transfer tax, and Owner's title insurance are paid by the seller per Michigan custom. Amounts are estimates. The title commitment and Closing Disclosure are authoritative for all charges.
What's included
Three costs every seller pays in Michigan.
Real estate commission
Michigan customarily has the seller pay both sides' commission at closing. The NAR Settlement (2024) means buyer-side compensation is now negotiated separately in a buyer representation agreement rather than assumed. The default 6% in this calculator reflects the traditional split. Adjust the percentage to match your actual listing agreement.
Michigan transfer tax
Michigan imposes a state real estate transfer tax of $3.75 per $500 of sale price (MCL 207.523) and a county transfer tax of $0.55 per $500. The combined rate is $4.30 per $500, or 0.86% of the sale price. The rate is the same in every Michigan county and is paid by the seller at closing.
Owner's title insurance
The seller pays for an Owner's title insurance policy protecting the buyer against covered title defects. Allegiance issues First American Eagle policies at rates filed with the Michigan Department of Insurance and Financial Services. When the property was last insured within the previous 24 months, the 2-year reissue rate applies and can meaningfully reduce the premium.
Ready for the real number?
Open an order. We'll send a written net sheet.
Send us the purchase agreement and we'll prepare a formal net sheet with exact figures, including any payoff statements and tax prorations. Most orders are acknowledged within one business hour.