Seller Net Sheet

Your Numbers

Customary, not statutory. In Pennsylvania the transfer tax is conventionally split down the middle and title insurance is conventionally the buyer's cost, and both are negotiable in the agreement of sale. Tax bills are prorated by the day to the closing date, with the closing day counted as yours, as the standard Pennsylvania agreement of sale provides: a bill you have paid comes back to you for the days after closing, and one you have not paid is charged for the days through it. This sheet leaves out payoff interest to the settlement date, municipal certifications, and repairs agreed after inspection. We will put real figures against all of them for a specific property.

Where the Rates Come From

Pennsylvania charges 1% state realty transfer tax. Municipalities add their own, and in several of the towns we work in that local rate is well above the usual 1%.

On a $260,000 sale, 3.7% in Scranton City against 2% everywhere else is $4,420 more in tax, and half of that is $2,210 off the seller's bottom line. Which town a property sits in is not a detail.