Seller Net Sheet
What you walk away with
$
$
Agent commissions$17,500
%
%
Government, title, settlement$7,550
% of sale
$
$
$
Adjustments & concessions$0
$
$
$
Net check at closing
$354,950
$700,000 sale − $320,000 payoff − $25,050 costs = $354,950.
Sale price
$700,000
gross sale
Mortgage payoff
$320,000
paid to lender
Total selling costs
$25,050
3.58% of sale
Net to seller
$354,950
check at closing
Capital gains tax not included here. For that, use the Capital Gains calculator. Most primary-residence sellers under the Section 121 exclusion ($250k single / $500k MFJ) owe $0 federal cap-gains tax. State tax may still apply.