Curious what you will actually take home when you sell your Overland Park home? With prices, fees, and timing all in the mix, the number in your head can feel fuzzy. You deserve a clear, local estimate you can trust before you make your next move. In this guide, you will learn what a seller net sheet is, every cost to include, Johnson County specifics to watch, and simple examples to help you estimate your proceeds. Let’s dive in.
What a seller net sheet is
A seller net sheet is an estimate of your cash proceeds at closing. It starts with your expected sale price and subtracts all costs, payoffs, prorations, and credits. Think of it as your realistic bottom line.
The high-level formula is simple: Estimated Net = Sale Price − (Seller Closing Costs + Broker Commissions + Mortgage or Lien Payoffs + Prorations + Seller Credits or Repairs + Miscellaneous Costs). Accuracy improves when you use current payoff statements, recent tax and HOA information, and a title company’s fee schedule.
Key line items to include
Sale price and credits
Your agreed sale price is the starting point. Seller credits for buyer closing costs, rate buy-downs, or repair allowances are subtracted and reduce your net dollar for dollar.
Commissions and agent fees
Commissions are typically paid from seller proceeds at closing. Combined rates often fall in the 4% to 6% range, but they are negotiable and can vary by market and agreement. Your listing agreement should also note any transaction fees.
Loan payoffs and liens
Your lender’s payoff statement shows principal, accrued interest through a payoff-valid date, and per diem interest. If you have a second mortgage, HELOC, judgment, or tax lien, those must be cleared at closing. Prepayment penalties are uncommon but can exist, so check your loan documents.
Title, escrow, and recording fees
Title and settlement fees vary by title company. Recording fees for your deed and any lien releases are charged by the county. In many areas the seller pays for the buyer’s owner’s title policy, but this can vary, so confirm what is customary for your transaction.
Prorations and recurring charges
Property taxes, HOA dues, and some utilities are prorated based on the closing date. Whether taxes are paid in arrears or in advance affects the proration, so verify the schedule with the Johnson County Treasurer or Assessor or your title company. Some HOAs also charge transfer or processing fees.
Inspections, repairs, and warranties
You can complete repairs before closing or offer credits at closing. Either way, it lowers your net. If you purchase a home warranty for the buyer, include that cost too.
Prep and holding costs
Pre-sale repairs, staging, photography, yard work, and cleaning may be part of your marketing plan. Add your expected spend. Also include carrying costs during your time on market and escrow, such as mortgage interest, insurance, taxes, HOA dues, and utilities.
Taxes and capital gains
Federal rules may allow you to exclude up to $250,000 of gain if single or $500,000 if married filing jointly on the sale of your primary residence, when ownership and use tests are met. Kansas also taxes income, including capital gains. These items affect your overall tax situation, not the funds collected at the closing table. Consult a tax professional and review IRS Publication 523 for guidance.
Overland Park and Johnson County specifics
Property tax proration depends on the county’s billing schedule and your closing date. Pull your latest tax bill and confirm the current schedule with the Johnson County Treasurer or Assessor, including any special assessments that may apply.
Recording fees for deeds and lien releases are charged by the Johnson County Recorder and are typically listed on your settlement statement. Many Overland Park neighborhoods have HOAs that may require estoppel letters and charge transfer or processing fees. The amounts vary by association.
Some places charge transfer taxes or documentary stamps. Confirm with your title company or the county whether any transfer tax or local fee applies to your property. Your net sheet should reflect confirmed local fees.
Market timing matters. Spring often brings more inventory and more buyers, which can influence offers and days on market. Balance potential price gains with carrying costs if a longer timeline is likely. Use a current Comparative Market Analysis to estimate a realistic sale price and time to sell.
How a personalized net sheet is prepared
What information you provide
- Expected sale price or specific offer terms
- Current payoff statement(s) for all loans and liens, including per diem interest
- Latest property tax bill and billing schedule
- HOA contact or estoppel details, dues, transfer fees, and any outstanding assessments
- Any agreed seller credits, repair allowances, or home warranty costs
- Listing agreement commission details
- Title company fee estimate and expected recording fees
The step-by-step process
- Your agent gathers your payoff statements, tax bill, and HOA details.
- Your agent estimates buyer and seller paid items and notes any credits or concessions.
- The title company provides settlement, title, recording, and other local fee estimates.
- Your agent compiles a clear net sheet with assumptions and flags anything that needs a final payoff or fee update.
Timing impacts to watch
- Closing date changes your tax, HOA, and utility prorations.
- Mortgage interest accrues daily until payoff, so later closings increase interest owed.
- Post-closing occupancy or rent-back agreements can affect your net and insurance requirements.
Example net proceeds scenarios
The numbers below are illustrative only. Your real net will depend on your actual payoff, title fees, prorations, credits, and closing date.
Example A — modest-priced Overland Park home
- Sale price: $350,000
- Broker commission at 5.5%: $19,250
- Seller title and closing fees at 1.0%: $3,500
- Prorations, HOA, and minor fees: $1,200
- Mortgage payoff: $220,000
- Estimated net: $106,050
Example B — higher-priced Overland Park sale
- Sale price: $600,000
- Broker commission at 5.5%: $33,000
- Seller title and closing fees at 1.0%: $6,000
- Prorations, HOA, and minor fees: $1,200
- Mortgage payoff: $350,000
- Estimated net: $209,800
If you agree to pay buyer closing costs equal to 2% of price, subtract that amount from the estimated net. If you complete $10,000 of repairs before closing, subtract that as well.
Quick checklist to get accurate numbers
- Request up-to-date mortgage payoff statements with a payoff-valid-through date and per diem interest.
- Contact your HOA for an estoppel letter, current dues, transfer fees, and any outstanding assessments.
- Pull your latest property tax bill and confirm the Johnson County billing schedule and any special assessments.
- Ask your agent for a current CMA to set a realistic list price and expected time on market.
- Ask the title company for estimated title, settlement, and recording fees.
- Consult a tax professional about capital gains, state taxes, and the primary residence exclusion.
- Add home prep, staging, and holding costs into your early estimate.
Compare offers using your net sheet
A higher price does not always mean a higher net. For example, a $600,000 offer with a 2% seller credit could net less than a $590,000 offer with no credit. Use your net sheet to compare each offer line by line so you can choose the one that best meets your goals.
Next steps
Your best estimate comes from real numbers, not rules of thumb. A local agent and title company can plug in your exact payoff amounts, HOA details, and county fees to produce a personalized net sheet that fits your timing and strategy. If you are considering a sale in Overland Park or anywhere in Johnson County, reach out for a CMA and a tailored net sheet that puts clarity first. Connect with Bryan Huff to get started.
FAQs
Who prepares a seller net sheet in Overland Park?
- Your listing agent typically prepares an initial estimate, and the title or escrow company provides the final closing figures.
Are real estate commissions negotiable for sellers?
- Yes. Commissions are negotiable and should match your listing agreement. Your net sheet should reflect the actual agreed rate.
Do I pay capital gains tax at closing when I sell?
- Capital gains taxes are not typically collected at closing. Tax liability is determined when you file. Consult a tax professional about exclusions and timing.
How do concessions and credits affect my proceeds?
- Seller credits reduce your net dollar for dollar, even if the buyer’s offer price is higher.
How can I make sure my mortgage payoff is accurate?
- Request a current payoff statement for each lien with a payoff-valid-through date and per diem interest so the title company can calculate payoff to your closing date.
Are there transfer taxes in Johnson County or Overland Park?
- Some places charge transfer taxes, but practices vary. Confirm with your title company or county offices so your net sheet includes any local fees.
