What Is a Seller Net Sheet in Indiana and What Goes Into It?
Quick answer: A seller net sheet is a line-by-line estimate of what you will walk away with when your house sells: the sale price minus your mortgage payoff, taxes and selling costs. At Mark Dietel Realty, we prepare a written net sheet for every Southside Indianapolis and Johnson County, Indiana seller before listing.
Key takeaways
- A seller net sheet estimates your proceeds: sale price minus mortgage payoff, prorated property taxes and the costs of the sale.
- Your mortgage payoff is almost never the same as the balance on your statement — it includes interest through the payoff date.
- Indiana property taxes are billed in arrears, so most sellers give the buyer a credit at closing for taxes that have accrued but not yet been billed.
- Commissions are fully negotiable and are not set by law — a written net sheet shows the exact numbers for your situation before you sign anything.
What is a seller net sheet?
A seller net sheet is a one-page estimate, usually prepared by your listing agent or the title company, that starts with an expected sale price and subtracts everything paid out of the sale — your mortgage payoff, prorated property taxes and the costs of the sale — to show your estimated walk-away number.
You should see one at three moments: at the listing appointment, when each offer comes in, and shortly before closing. In our experience on the Southside, sellers who see a written net sheet early make calmer decisions later — every line is already on paper before the closing table.
What line items are on an Indiana seller net sheet?
Most Indiana seller net sheets carry the same lines: mortgage and equity-line payoffs, the negotiated costs of the sale, title work, property-tax proration, recording and document charges, any seller concession, HOA items, and utility finals. Who pays each item is set by the purchase agreement, not by law.
How does property-tax proration show up on the net sheet?
Indiana property taxes are billed a year behind. The buyer will get the bills for time you owned the home, so the purchase agreement typically gives the buyer a credit at closing for taxes that have accrued but have not yet been billed, prorated to your closing date.
Installments are due May 10 and November 10 each year, according to the Indiana Department of Local Government Finance (DLGF). Because bills run in arrears, a September seller has accrued months of taxes that will not be billed until the following year. The title company calculates the credit to the day; the net sheet estimates it in advance.
Why is the mortgage payoff different from my loan balance?
Your payoff is the amount needed to close the loan on a specific day: the principal balance plus interest through that day and any release costs, before your escrow refund. Interest accrues daily, so the payoff is dated — and it is almost always higher than the balance on your statement.
The Consumer Financial Protection Bureau (CFPB) puts it this way: once you request a payoff amount, servicers "must provide you with an accurate statement of the total amount that would be required to fully pay off your loan as of a specified date." The title company orders an updated payoff for your actual closing date, and the net sheet should use a current payoff statement — not last month's balance.
What does this look like in Central Indiana?
Take a hypothetical Greenwood, Indiana ranch that goes under contract at $330,000 — close to Johnson County's July 2026 median sales price of $333,498, reported by the Indiana REALTORS Housing Data Hub. Here is how that seller's net sheet typically reads, line by line, before the exact figures are filled in.
The top line is the $330,000 contract price. The largest deduction is usually the mortgage payoff — say this seller's statement shows roughly $195,000 remaining; the actual payoff runs somewhat higher once interest through the closing date is added. Then come the negotiated items from the table above: the owner's title policy, a property-tax proration credit to the buyer, the Sales Disclosure Form filing, recording charges, and any concession the buyer negotiated. Every line is knowable in advance — from a dated payoff statement, the county tax bill, and your signed agreements — so the walk-away number at closing should match the estimate within a narrow band.
When this doesn't apply
A standard net sheet is less useful in a few situations. If you own the home free and clear, the math is simpler — though estates often have other claims to clear, so heirs should still ask the title company to run the numbers. If you owe more than the home is likely to sell for, the sheet will show a shortfall, and the right conversation is about options, not a prettier estimate. And if you are two or more years from selling, treat any net sheet as a rough sketch. Sellers working without an agent can ask an Indianapolis title company directly.
What to do next
If you are thinking about selling in the next year, ask for a written seller net sheet now. Bring three things: your most recent mortgage statement (plus any equity line), your latest property-tax bill, and your HOA contact if you have one. We will run the estimate at two or three price points, and we will tell you plainly if the numbers say wait.
Call or text Mark Dietel Realty at (317) 426-9911 or visit markdietelrealty.com — offices in Southside Indianapolis, Greenwood and Bloomington, serving sellers across Central Indiana, with no obligation.
FAQ
Is a seller net sheet a guarantee of what I will receive?
No. It is an estimate built from the numbers known at the time. Your final figures appear on the settlement statement the title company prepares before closing, and Mark Dietel Realty reviews an updated net sheet with you whenever the price or the terms of your sale change.
Does Indiana have a real estate transfer tax?
No. Indiana does not charge a state transfer tax when a home sells. Instead, the sale is reported on the Indiana Sales Disclosure Form (State Form 46021), which is filed with the county when the deed is recorded, according to the Indiana Department of Local Government Finance.
Can I get a net sheet before I decide to list?
Yes. We prepare written net sheets for Southside Indianapolis and Johnson County homeowners who are only exploring, often at two or three different sale prices, so you can see how the walk-away number changes. There is no obligation to list, and the estimate is yours to keep.
What happens to my escrow account when I sell?
Your escrow balance is not part of the closing-day math. After the loan is paid off, your servicer refunds whatever remains in escrow, typically within a few weeks of closing. Plan as if it arrives later — do not count it in your walk-away number on closing day.
What if the net sheet shows I would barely break even?
That is exactly why you run one early. Sellers with thin equity have real options: adjusting the timing, revisiting the target price, or comparing alternatives we can walk through honestly. If you owe more than the likely sale price, ask us how short sales work in Indiana before you list.