Seller net sheet
What you walk away with when you sell
Sale price, minus the payoff, minus the cost of selling. Five answers you already have — the price, roughly what you owe, the compensation you agreed to, when you expect to close, and whether the seller lives in South Carolina — and the sheet works out the rest from the statute, a statewide closing firm’s fee schedule, the filed title scale and a calibrated tax rate. Whether you are the agent or the homeowner. Nothing to sign up for.
Common questions
What does a seller net sheet include?
Sale price, minus what is owed on the house, minus the cost of selling. In South Carolina the cost of selling is the compensation the seller agreed to, the closing attorney’s seller-side fees, the owner’s title policy the seller customarily provides, the deed recording fee the state charges on the deed, and the seller’s share of the year’s property taxes, plus any association charges, repairs or concessions from the contract. If the seller does not live in South Carolina, income tax is withheld from the proceeds at closing as well.
Is the mortgage payoff the same as the balance on the statement?
Close, but not the same. Interest accrues to the day the loan is actually paid, so the payoff figure is a little higher than the statement balance, and the payoff quote usually carries the release recording charge. The statement balance is a fine starting figure for this sheet; the servicer’s payoff quote is the exact one. The escrow balance is separate: the servicer returns it after the payoff, usually within thirty days, so it is not part of the net.
What does South Carolina charge a seller on a deed?
A deed recording fee, set by statute at a fixed amount for every five hundred dollars of the price or fraction of one, split between the state and the county. By statute it is the grantor’s liability, which is the seller. The sheet computes the exact figure from the sale price and shows the state and county shares. The contract can shift it, but the default is the seller’s.
What is nonresident seller withholding in South Carolina?
When the seller is not a South Carolina resident, the buyer is required to withhold South Carolina income tax from the proceeds at closing and remit it on Form I-290 by the fifteenth of the following month. The rate is the state’s top individual income tax rate for the year of sale, or 5% for a corporation, applied to the gain if the seller provides an I-295 affidavit of gain and otherwise to the amount realized. It is a prepayment of the seller’s income tax, credited on their South Carolina return, with any excess refunded, but it is real money that does not arrive at the table.
Why does the sheet ask for compensation instead of assuming a rate?
Because there is no typical rate. Compensation is negotiated between the seller and the agent, it changed materially in 2024, and any figure a website puts in that box is a claim about what agents charge. Enter the percentage from the listing agreement, or the dollar figure under refine, and the sheet works from that and nowhere else.
Where do the estimates come from?
The seller’s attorney and settlement fees are the seller column of a statewide South Carolina closing firm’s published fee schedule. The owner’s title policy uses the filed residential premium scale, because in South Carolina the seller customarily provides it. The tax proration uses a calibrated effective rate on the price, prorated from January 1 to the closing date because South Carolina taxes are paid in arrears. Each is marked estimate on the sheet, and the real figure replaces it the moment you enter one under refine.
Why is the net marked provisional?
Because a line only you can answer has no figure yet, usually the payoff or the compensation. A blank line stays on the sheet with a note saying what it is waiting on, and the net shown is the net before it. A sheet that quietly treats a blank as zero produces a confident number that is wrong; this one shows you the number and tells you what is missing from it.
Selling to buy? The net at the bottom of this sheet is the down payment side of the move-up math, and today’s rates for the next house are one click away, in any of the states we lend in. The buyer’s side of the same table is the closing cost estimator for agents.