Calculators
Michigan Seller Net Sheet Calculator
Before you list, or before you count on the money for your next home, see what the sale is likely to leave you, from the figures on your payoff statement and listing agreement.
- Transfer tax worked out for you
- Sent to Samantha only if you choose
What will you walk away with from the sale?
Sale price, minus the payoff, the commissions you agreed, closing costs, concessions and Michigan's transfer tax. Enter your own figures. Your numbers are not sent unless you choose to send them to Samantha.
What selling costs you
Since the 2024 rule change, agent compensation is agreed in writing rather than assumed, so use the figures in your listing agreement and your contract. Leave out anything that does not apply.
Enter the expected sale price and what you owe to see what the sale is likely to leave you.
This is arithmetic on numbers you entered. It is not a quote, an offer, a credit decision or a recommendation, and it does not evaluate your eligibility for any loan program. What a sale actually nets depends on the offer, the contract and the closing; your title company prepares the settlement statement. Transfer tax as described in our Michigan transfer tax guide. Align Lending LLC, NMLS #2041154. Equal Housing Opportunity.
Before you list
In Samantha's words
Know how the two fit together
“Don't list the house you're in or fall in love with the next one until you understand how the two transactions fit together.”
Call early
“The early call is almost always easier than the emergency call.”
The terms
Two lines on every Michigan settlement statement
Transfer tax
Michigan charges a real estate transfer tax when property changes hands: a state tax of $3.75 for every $500 of the sale price, plus a county tax of $0.55 per $500. By custom the seller pays it at closing, though the purchase agreement can say otherwise, and some transfers are exempt.
How it is calculatedSeller concessions
Seller concessions are costs the seller agrees to pay on the buyer's behalf, usually part of the closing costs or a rate buydown, written into the purchase agreement. Each loan program caps how much a seller can contribute, measured as a share of the price.
In the glossaryQuestions about what a sale nets
If yours is not here, send Samantha your numbers and she will walk through them with you.
How is net proceeds worked out?
One subtraction chain: sale price, minus the mortgage payoff, minus commission, minus closing costs, minus prorations, minus repairs and concessions. The payoff is usually the largest single subtraction, and it is not a cost at all. It is your own debt being retired.
Why is my payoff higher than my balance?
Your payoff is the principal balance plus interest accrued through the closing date and any servicer fees, not the balance on last month’s statement. Request an official payoff quote and check it for a prepayment penalty, rare on modern owner-occupied loans but not impossible.
How is the Michigan transfer tax calculated?
The price is counted in $500 steps, and any part of a step counts as a whole one: $3.75 per step for the state and $0.55 per step for the county, $4.30 in all. On a $300,000 sale that is 600 steps, $2,250 for the state and $330 for the county. See our transfer tax guide.
Can I get the state transfer tax back?
The state portion is not owed when the home was your principal residence, its state equalized value is no higher than when you acquired it, and it sold at an arm’s-length price. A seller who already paid it can claim a refund from the Michigan Department of Treasury with proof the tax was paid. Keep the closing statement.
Do I still pay the buyer’s agent?
Only if you agree to. A seller can still agree to contribute toward the buyer’s agent, but it is now negotiated inside the contract rather than advertised on the MLS. Enter what you agreed, if anything.
Do I owe tax on the profit?
It depends on your situation. Our guide to the finances of selling explains how the gain is figured and when it is excluded. A tax professional can tell you what applies to you.
Keep going
Selling one home and buying the next
Buy Before You Sell
When you need to buy the next home and sell this one, and the order matters.
Buy Before You SellProperty tax after you buy
The next home's tax after the reset, from its published millage.
Property tax after you buyHomebuying budget
Start from a monthly payment you are comfortable with and see what has to fit inside it.
Homebuying budgetAll calculators
Every Align tool in one place, grouped by the question it answers.
All calculatorsMichigan transfer tax
The state and county transfer tax on a sale, which the seller pays, and when the state part is not owed.
Michigan transfer taxLoan limits by county
The 2026 conforming and FHA limits for your next home's county, and where 2027 stands.
Loan limits by countyAlign Lending LLC, NMLS #2041154, is a mortgage broker. Samantha Shelton, NMLS 1647301. Equal Housing Opportunity. Licensed in Michigan, Ohio, North Carolina, Florida, Louisiana and Texas. The calculator shows arithmetic on the figures you enter and Michigan's transfer tax rates as described in our transfer tax guide. Your title company prepares the settlement statement. It is not a quote, an offer of credit, or tax or legal advice.
