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SIDNEY MANZO

Financing Studio

Seller Net Sheet

Estimate what you may net from a sale after loans, selling costs, escrow and title fees and transfer tax.

Your numbers

From your lender's payoff statement.

Enter the rate in your listing agreement. The amount or rate of real estate commissions is not fixed by law. They are set by each broker individually and may be negotiable between the seller and broker.

Example figure. Ask your escrow officer for an estimate.

Some cities add their own transfer tax. Ask your escrow officer whether one applies.

HOA transfer, warranty and similar.

Estimated seller proceeds

Estimated net to you

Enter the commission rate from your listing agreement to see your estimated net.

Where the sale price goes
  • Loan payoff$600,000
  • Escrow, title and other fees$12,000
  • County transfer tax$1,650

County transfer tax is $0.55 for each $500 of the price ($1,650 here). Ask your escrow officer or a real estate attorney who pays the transfer tax under your purchase contract.

An indicative figure for planning. Not a lender quote and not an offer of credit. Sidney Manzo, CA DRE #01108914, licensed in California.

RE/MAX Dream Properties (ASLG Inc), CA DRE #02142193

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How this works

From sale price to net

The net is the sale price minus loan payoffs and other liens, the commission, escrow and title fees, county and city transfer tax, credits and repairs, and any other costs you enter.

The county documentary transfer tax is $0.55 for each $500 of value or fraction of $500 when the value is over $100 (Rev. & Tax. Code §11911(a)). The LA County Registrar-Recorder states it as $1.10 per $1,000. Some cities add their own transfer tax; the tool leaves that to the city transfer tax field so you can enter the figure your escrow officer gives you.

The amount or rate of real estate commissions is not fixed by law. They are set by each broker individually and may be negotiable between the seller and broker.

Ask your escrow officer or a real estate attorney who pays the transfer tax under your purchase contract.

Questions

How this estimate works

How is the county transfer tax figured?

California law sets the county documentary transfer tax at $0.55 for each $500 of value or fraction of $500 when the value is over $100. The LA County Registrar-Recorder states it as $1.10 per $1,000.

Do cities add their own transfer tax?

Some do. Ask your escrow officer whether a city tax applies and enter it in the city transfer tax field. The LA County Registrar-Recorder lists the cities and rates.

Who pays the transfer tax?

Ask your escrow officer or a real estate attorney who pays the transfer tax under your purchase contract.

Is this my final number?

No. Escrow prepares the final settlement statement, which includes prorated property tax, HOA dues and other credits this estimate leaves out.