What Will I Net When I Sell My Seattle House?

The answer starts with the contract price and ends with what's left after excise tax, negotiated broker compensation, escrow and title charges, mortgage payoffs, tax and dues prorations, and any repairs, staging, or credits you agreed to. The only reliable number is built from written figures for your property and your closing date. A rule of thumb won't get you there.

Key Takeaways

Eight categories reduce your proceeds, and each has a different source. Some are set by law, some by a lender or association, and some are entirely negotiable.

Seattle sellers pay the graduated Washington state excise tax plus a 0.50 percent Seattle local rate, and the Department of Revenue treats the seller as responsible unless the purchase and sale agreement says otherwise.

Broker fees are fully negotiable and not set by law, so no percentage belongs in your net sheet until it appears in a signed listing agreement.

Your mortgage payoff is not the balance on your monthly statement. It includes accrued interest and lender charges and has to be requested for your expected closing date.

Ask for every deduction as its own line, labeled as an estimate, contract-dependent, or confirmed, before you list.

What Comes Off the Contract Price

Sellers who see these as separate lines make better pricing and timing decisions than sellers working from one lump-sum guess about the cost to sell.

Real estate excise tax

Washington taxes the sale of real property on a graduated state schedule based on selling price, and Seattle adds a 0.50 percent local rate on top. The Department of Revenue identifies the seller as responsible, though your purchase and sale agreement can address payment between the parties, so confirm what your own contract says.

The affidavit and the tax have to be handled before the deed can be recorded. Two things worth asking your escrow officer for: a written estimate reflecting your likely recording date, and whether any exemption or unusual transfer structure applies to you. The timing question matters more than usual right now, because the state thresholds are scheduled to adjust at the start of 2027. If your closing lands near the turn of the year, get the estimate for the actual date.

Negotiated broker compensation

Broker fees and commissions are fully negotiable and not set by law. Your listing fee is agreed in your listing agreement with the broker you hire. Any compensation you choose to offer a buyer's agent is optional and separately negotiable, and it is not automatic. I'll walk you through exactly how I structure this for your home before you sign anything.

Escrow and title charges

Your closing is handled by an escrow officer. Ask the title and escrow provider for a preliminary estimate showing escrow charges, title search or policy charges, recording-related items, courier or wire fees, and payoff handling charges. Some are required, some are convention, and some are negotiable. Don't assume a customary split applies to your deal, because the allocation comes from your contract.

Mortgage and lien payoffs

Your payoff is not the principal balance printed on your monthly statement. It can include accrued interest, recording or release charges, and other lender-specific amounts.

Request a payoff statement for every deed of trust, home equity line, judgment lien, or other recorded obligation. Ask how long each quote stays valid and what daily interest accrues after its effective date. If your closing moves, refresh the quote.

Prorated taxes and association dues

Taxes and dues are adjusted at closing so each side carries the period the agreement assigns to it. The result can land on either side of the ledger depending on what you've already paid. The adjustment depends on your closing date, the tax bill or association ledger, payment status, and the contract language. Escrow does the math, but you should know the inputs before you list.

Repairs, staging, and credits

These are the most negotiable lines on your sheet and the easiest to underestimate. A repair allowance, a buyer credit, a rate concession, or agreed work should appear in the purchase agreement or an addendum and be reflected in the escrow instructions. Your net sheet should show whether each item is a direct credit, a repair payment, or a reduction handled at closing. Staging belongs on the sheet too, and I'd rather you have a written estimate than a guess.

What to Request Before You List

Every deduction on your net sheet should trace back to a real source. Here's the checklist I work through with sellers.

A preliminary net sheet with each deduction shown separately, each labeled as an estimate, contract-dependent, or confirmed with a lender, title company, county, or association.

A written excise tax estimate confirming the graduated state rate that applies, Seattle's 0.50 percent local rate, the taxable selling-price basis, and who prepares and submits the documentation.

Payoff statements for every recorded obligation, with the validity period and daily interest accrual.

Title and escrow estimates listing each seller-side line, noting which are required, which are customary only, and which are negotiable.

King County tax information covering current status, unpaid balances, supplemental or corrected bills, local assessments, and how escrow will prorate through closing.

Utility and property-related balances that could surface during title or escrow review.

Written estimates for any repairs you plan to make and for staging.

A plan for documenting credits, so any concession lands in both the contract and the escrow instructions.

Selling a condo or a home in an HOA

Request the association ledger and resale package early. Confirm dues paid through your anticipated closing date, any special assessments, transfer or resale document charges, move-related fees, and whether any balance or violation could delay closing. These vary by association and can't be inferred from a general estimate. In a building, the association's financial picture affects both your net and your buyer's financing, so surface it before you list.

Can Market Medians Tell Me What I'll Net?

No. Medians describe an area. Your net comes from your signed contract and your closing figures.

Neighborhood data is useful for pricing and timing, and I track it. It's also worth knowing that a neighborhood median, a citywide Seattle median, a King County median, and an NWMLS regional median are four different numbers that get quoted interchangeably. None of them tells you anything about your payoff, your excise tax, or your credits.

The sellers who feel best at closing are the ones who asked what they'd net before listing rather than after the first offer. Your number depends on your loan, your closing date, your contract terms, and your building if you own a condo.

If you're not sure whether your numbers work yet, I'll build a net sheet with you from your own documents before you commit to a list date.

Frequently Asked Questions

How do I calculate my net proceeds?

Start with your contract price, then account for excise tax, negotiated broker compensation, escrow and title charges, mortgage and lien payoffs, tax and dues prorations, repairs, staging, and credits. Use written figures for each line rather than a generic cost-to-sell assumption.

Who pays excise tax, and what's Seattle's local rate?

The Department of Revenue identifies the seller as responsible, though the purchase and sale agreement can address payment between the parties. Seattle's local rate is 0.50 percent on top of the graduated state rate. Confirm your own contract and get a written estimate from your escrow officer.

Are commissions negotiable in Washington?

Yes. Broker fees are fully negotiable and not set by law. Your listing fee is agreed in your listing agreement, and any compensation offered to a buyer's agent is optional and separately negotiable.

How do I get an exact mortgage payoff?

Request a written payoff statement from your lender for your expected closing date. It can include accrued interest, recording or release charges, and other lender-specific amounts, so it will differ from your monthly statement. Ask how long the quote is valid and what daily interest applies afterward, and refresh it if closing moves.

How are taxes and HOA dues handled at closing?

Escrow prorates both so each party covers the period the agreement assigns, with dues paid through your closing date. The exact adjustment depends on your closing date, the King County tax bill or association ledger, payment status, and contract language. Request the ledger and resale package early so nothing delays closing.

About Kim Reidy

Kim Reidy is a Senior Broker and Director of Relocation at Pointe3 Real Estate in Seattle who has been helping corporate transferees and individuals find the right neighborhood since 2010. A Certified Negotiation Expert (CNE) and Certified Buyer Agent Expert (CBAE), she's known as Seattle's "neighborhood whisperer."

Pointe3 Real Estate · (206) 237-6391

Equal Housing Opportunity. Kim Reidy is a Broker with Pointe3 Real Estate, licensed in Washington State (DOL license 106408) and regulated by the Washington State Department of Licensing. This article is general information only and not legal, tax, or financial advice; confirm your own numbers with your escrow officer, tax advisor, or lender. Excise tax rates and thresholds change; verify current figures with the Washington Department of Revenue. Broker fees and commissions are fully negotiable and not set by law. Property search is powered by RealScout pulling live MLS data; all information should be independently reviewed and verified for accuracy.