What is a seller's net sheet?
A line-by-line estimate of what a seller actually walks away with: the price, less the loan payoff, the commissions and the closing costs, plus the credits that come back.
A net sheet is a one-page estimate of what a sale leaves the seller after everything has come out of it. It binds nobody. The binding version is the settlement statement escrow produces at closing, and the net sheet is the rehearsal for it, run before a home is listed so the seller knows what a price means, and run again on each offer so the offer can be read as a figure the seller keeps rather than a figure the seller is quoted.
The lines are always the same. Start at the sale price. Subtract the mortgage payoff, which is the balance plus interest to the day the lender is paid, quoted with a per-diem so the figure survives a closing that slips. Subtract the commissions agreed in the listing agreement and any compensation to the buyer's agent the seller has agreed to cover, both negotiated rather than standard. Subtract the seller's Nevada closing costs: the real property transfer tax at $2.55 per $500 of value in Clark County, the owner's title policy the seller customarily buys for the buyer here, half the escrow fee, the association's transfer and resale package fees, and property tax and dues prorated to the closing date. Subtract repairs conceded after the inspection and any credit toward the buyer's costs. Then add the credits back: the balance left in the old escrow account, refunded by the servicer after payoff, and any tax the seller has already paid past the closing date.
On a $450,000 sale with a $300,000 payoff, those lines commonly leave somewhere near $119,000 rather than the $150,000 of equity the arithmetic of price minus payoff suggests. Every figure on the sheet is an estimate until escrow orders the payoff demand and the resale package, and the two that move most are the commissions and the repair credit. Kouzr does not sell homes and does not prepare net sheets; what the site contributes is the price end of the arithmetic, the recent closings and price-per-square-foot for the neighborhood that say which sale price is worth putting at the top of the page.
A worked example
What your Las Vegas home would list for
Questions people ask
Who prepares a seller's net sheet?
Usually the listing agent before the home is listed and again on each offer, and escrow or the title company will produce one on request. Both are estimates. The binding figures arrive on the settlement statement escrow issues at closing, once the lender's payoff demand and the HOA's resale fees are in hand.
What is the difference between a net sheet and a closing disclosure?
A net sheet is an informal estimate anyone can prepare at any point. The Closing Disclosure is the federal form the lender must deliver to a borrower three business days before signing, and the seller's counterpart is the settlement statement from escrow. The estimate is a planning tool; the statement is the accounting.