What will you actually walk away with when you sell?
Your home's value is only half the story. This calculator shows your real net proceeds after Michigan's transfer tax, title insurance, agent commission, and payoff — the number that actually lands in your account.
- Accurate MI transfer tax (0.86%)
- Editable, negotiable commission
- Instant — no email required
What you’d walk away with — about 7.8% of the sale price goes to selling costs (before your mortgage payoff).
Estimate only — figures vary by contract and closing date. Transfer tax is fixed by Michigan statute; other costs are typical ranges. Not financial or tax advice.
What it costs to sell a house in Michigan
Selling a home in Michigan typically costs somewhere between 6% and 10% of the sale price once everything is added up. The largest piece is the real estate commission; the rest is a mix of state-set taxes and customary seller costs. Here’s where the money goes:
Real estate commission (≈5–6%).This is negotiable and not set by law. Since the 2024 NAR settlement, the seller is no longer required to pay the buyer’s agent — that compensation is now negotiated separately and can be paid by the buyer, the seller as a concession, or split. The calculator lets you edit the rate so you can model any scenario.
Michigan transfer tax (0.86%). This one is fixed by statute: $7.50 per $1,000 to the state plus $1.10 per $1,000 to the county, for a combined $8.60 per $1,000 (0.86%). In Michigan the seller pays it by default.
Owner’s title insurance (≈0.5–1%). Unlike many states, Michigan custom is for the sellerto buy the owner’s title policy for the buyer. It’s negotiable in the contract, but budget for it.
Other closing costs. A settlement/closing fee, deed preparation, recording, and prorated property taxes up to the closing date — usually a few hundred dollars plus your tax share.
How this calculator works
Start with your estimated sale price, then subtract each selling cost and your remaining mortgage balance. What’s left is your estimated net proceeds — the cash you keep. The transfer-tax rate is Michigan’s statutory 0.86%; commission and title are editable because they vary and are negotiable.
It’s an estimate, not a closing statement — your actual numbers depend on your contract, closing date, and any concessions. For an exact figure, a local broker can run your home against live comps and prepare a real net sheet, free.
Home sale proceeds questions
How much do I keep when I sell my house in Michigan?
After paying off your mortgage, expect to net your sale price minus roughly 6–10% in selling costs (commission, Michigan's 0.86% transfer tax, owner's title insurance, and closing costs). On a $400,000 sale with a $220,000 payoff and a 6% commission, a typical seller nets around $150,000 — but your exact figure depends on your payoff, commission, and concessions. Use the calculator above to model your own numbers.
Who pays the transfer tax in Michigan, the buyer or the seller?
The seller. Michigan's real estate transfer tax is set by statute at $8.60 per $1,000 of sale price (0.86% — $7.50 state + $1.10 county), and the law places it on the seller/grantor. It's calculated on the sale price rounded up to the nearest $500.
Is the 6% real estate commission required?
No. Commissions are fully negotiable and are not set by law. The often-cited '6%' is just a common range (5–6% in Michigan). Since the August 2024 NAR settlement, the seller is no longer obligated to pay the buyer's-agent commission — that's now negotiated separately. Edit the commission field in the calculator to see how different rates change your net.
Does the seller pay for title insurance in Michigan?
Customarily, yes — Michigan tradition is for the seller to pay for the owner's title insurance policy that protects the buyer, typically 0.5–1% of the sale price. The buyer usually pays for the separate lender's policy. Like most costs, it can be shifted by the purchase agreement, so defer to your contract.
How accurate is this net proceeds estimate?
The transfer tax is exact (it's fixed by statute). Commission, title, and other closing costs are typical ranges you can edit, so the estimate is only as accurate as your inputs. It doesn't yet know your exact prorated taxes or any negotiated concessions. For a precise, itemized net sheet based on your real home and current comps, request the free broker net sheet on this page.
Get your exact net sheet, free
Numbers in hand? A local Metro Detroit broker will verify them against live comps and prepare an itemized net sheet for your actual home — no cost, no obligation to list.
2032 E Square Lake Rd, Suite 400A, Troy, MI 48085