Printable template

    Texas seller's net sheet template

    An itemized Texas seller net sheet: subtract every customary seller cost from the sale price to reach net proceeds. Use it for planning and to drill the exam-tested pieces.

    Use the calculator
    Sale priceContract price

    The starting point for the net sheet.

    Mortgage payoffLess: loan balance

    Seller's existing loan, paid at closing.

    Real estate commissionLess: sale price x rate

    Customary seller cost, negotiated percentage.

    Owner's title insuranceLess: promulgated premium (negotiable)

    Premium set by the Texas Department of Insurance. Common for the seller to pay in Texas, but negotiable by contract.

    Recording feesLess: release of deed of trust

    Recording the payoff release of the seller's existing loan.

    HOA transfer or resale feeLess: HOA transfer / resale certificate

    HOA transfer and resale fees are allocated by contract.

    Property tax prorationLess: annual tax x seller days / year

    Texas taxes in arrears, so the seller credits the buyer through the day before closing.

    Net proceeds= price - payoff - costs - credits

    What the seller actually walks away with.

    Who customarily pays in Texas

    1. Real estate commission: seller.
    2. Owner's title premium: negotiable by contract; common for the seller to pay in Texas.
    3. Lender's title policy: buyer, when financed.
    4. Property tax proration: seller credits buyer (Texas taxes in arrears).
    5. Release of seller's deed of trust: seller. Recording the deed: buyer.
    6. HOA transfer or resale fee: negotiable by contract.
    7. Settlement or closing fee: each side pays its own.

    Promulgated owner's title premium

    1. Texas promulgates owner's title premium rates through the Texas Department of Insurance.
    2. Every title company charges the same premium for the same policy amount.
    3. The premium is set by tiered rate bands on the policy amount.
    4. Title companies may add separate escrow and settlement fees.
    5. There is no Texas state transfer or stamp tax to add.

    Traps to check

    1. Do not add a stamp-tax line. Texas has no state transfer or stamp tax.
    2. Do not assume the buyer always pays owner's title. In Texas it is negotiable and commonly seller-paid.
    3. Do not prorate taxes the wrong direction. Texas taxes are in arrears, so the seller credits the buyer.
    4. Do not confuse equity (price minus payoff) with net proceeds after selling costs.
    5. Do not treat who-pays defaults as fixed. The signed contract controls who pays.
    Practice the patternPass Texas drills commission, title costs, and proration.

    Use the calculator, Math Coach, and Texas-specific questions at passtexasrealestate.com.

    Get Pass Texas

    Sources: Texas Department of Insurance promulgated title premium rates, Texas Comptroller property tax guidance, and TREC promulgated contract form proration provisions. For planning and exam prep only, not legal, tax, or closing advice. Your closing disclosure controls.

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