The listing price is not what you take home. Between agent commissions, closing costs, mortgage payoff, and any buyer concessions, the gap can be significant. This calculator shows you the real number before you commit to a price.
Agent commission is typically the largest — 5-6% of sale price. Closing costs for sellers run 1-3% in Ohio (transfer tax, title fees, prorated taxes). Mortgage payoff comes directly out of proceeds. Concessions are costs you agree to cover for the buyer during negotiation.
Capital gains heads up: If your profit exceeds $250,000 (single) or $500,000 (married filing jointly) and the home was your primary residence, you may owe capital gains tax on the excess. Consult a tax professional.
Net proceeds = Sale price minus agent commissions (5-6%), closing costs (1-3%), outstanding mortgage, and any concessions. On a $400,000 sale with $220,000 mortgage at 5.5% commission and 1.5% closing costs, you net approximately $152,000.
Ohio sellers typically pay: state transfer tax (0.1%), title insurance for the buyer, prorated property taxes, recording fees, and any agreed-upon concessions. Total seller closing costs typically run 1-2% of sale price, excluding agent commission.
If the home was your primary residence for 2 of the last 5 years, you can exclude up to $250,000 in profit (single) or $500,000 (married filing jointly) from capital gains tax. Consult a tax professional for your specific situation.
A seller concession is a cost you agree to cover on the buyer's behalf — typically their closing costs or points to buy down their mortgage rate. Concessions reduce your net proceeds and are negotiated during the offer process.
Yes. Commission is always negotiable, especially on higher-priced homes. A 0.5% reduction on a $400,000 sale saves $2,000. On a $600,000 sale it saves $3,000. Most agents will discuss rates.
Estimates only · Not professional advice