How Much Will I Net When I Sell My House in Maryland?

Your net proceeds are your sale price minus your mortgage payoff and your selling costs. That's the cash you walk away with. It's smaller than most people expect, so it's worth running the numbers before you list. I can give you a written estimate for your home, and your title company will confirm the final figures.

The worksheet

Start with the sale price, then subtract:

1. Mortgage payoff. Your lender's payoff amount, including interest through closing. Ask for a payoff letter.
2. Agent compensation. The listing commission, plus any buyer agent compensation you agree to offer. These are negotiated, so use the actual terms.
3. Maryland transfer and recordation taxes. State and county taxes paid at closing. Who pays which part can vary by county and by contract. Ask your title company for the current amount for your county.
4. Title and settlement fees. Settlement company, document preparation, and the seller's share of title costs.
5. Prorations. Property taxes, HOA or condo fees, and ground rent in some areas, split between you and the buyer as of closing.
6. Repairs and credits. Anything you agree to after the inspection, plus buyer closing cost help.
7. Prep costs. Cleaning, painting, staging, photos, and moving.
8. Other liens. HOA balances, second mortgages, or utility liens.

A sample layout (illustrative only)

Say the sale price is $500,000. These numbers are only a template:

• Sale price: $500,000
• Mortgage payoff: your figure
• Commission and buyer agent compensation: your agreed terms
• Taxes and settlement fees: from your title company
• Repairs and credits: your negotiated amount
• Prorations: your figure
• Estimated net: sale price minus all of the above

I don't want to put a rate on this page that doesn't fit your sale, since the right numbers depend on your county, contract, and negotiation. I'd rather build yours with real quotes.

Taxes on the profit

Your net cash isn't the same as your taxable gain. Many sellers can exclude up to $250,000 of gain ($500,000 for joint filers) on their main home. See how to avoid capital gains tax when selling, and check with a CPA.

Ways to improve your net

• Price the home to attract strong offers early.
• Prepare well to reduce repair requests.
• Compare the real cost of different offers, not just the price.
• Ask about timing, since a short rent-back or flexible closing date can matter to buyers.
• Negotiate agent compensation openly. I'm happy to explain exactly what you get.

Selling and buying

If you're buying your next home, your net determines your down payment. See my post on whether your proceeds will cover your next home.

FAQ

How soon do I get my money?

Typically at or shortly after closing, once funds are disbursed and the deed is recorded. Ask your title company.

Do I have to pay off my mortgage at closing?

Yes, the payoff comes out of your proceeds.

Can I estimate before I list?

Yes. I'll prepare a net sheet with your pricing analysis.

Do buyers' closing credits come out of my net?

Yes. Credits reduce what you receive.

Does staging come out of my net?

Any money you spend on prep is a cost, though it may improve your price.

Next step

Thinking about selling? See how I price and market homes on my sell page, or request a pricing analysis. Want to talk it through? Grab a free 15-minute call at calendly.com/michaelwaderealtor/15min. No pressure.