How do you build a seller net sheet?

A net sheet gives you a practical starting point for a Plano sale: the expected price, the expenses and the loan payoff all belong in the same picture. Kaitlin Lovern can help you work through those lines so you can compare what you may keep, not just the price on an offer.

The illustration below uses a $500,000 price solely to show the math. It is not a Plano median or a prediction of your sale price. The owner’s policy is charged to the seller in this example, and brokerage compensation is assumed at 3% of the price. Change that assumption to match your own written agreement. The basic title premium comes from the Texas insurance order effective March 1, 2026; compensation is negotiable under the TREC resale contract effective July 1, 2026 (Texas Real Estate Commission, form 20-19).

The tax example assumes a $500,000 taxable value before exemptions, the $140,000 school homestead exemption, and no city, county or college exemptions. The calculation uses the City of Plano rate of $0.4376 (Community Impact, September 15, 2026), the Collin County rate of $0.151414, the Collin College rate of $0.08122 (Community Impact, 2026), and the Plano ISD rate of $1.03275 per $100 (Plano ISD, 2026). Together these give an estimated $7,069.07 for the year, or $6,468.68 for 334 of 365 days through closing on November 30, 2026. Local exemptions can reduce that estimate. The subtotal leaves out the actual escrow fee, other closing charges, repairs, HOA amounts, concessions and payoff. No verified repair or HOA cost range is available here, so enter the amounts that apply to your home.

To choose a price for your own calculation, start with a review of what your Plano home may be worth. The $475,775.32 subtotal is the starting point before those remaining amounts are subtracted.

How does agent commission work?

Brokerage compensation is fully negotiable and is not set by law. The TREC resale contract, effective July 1, 2026, says each party pays its own broker under separate written agreements. It also provides a place to specify a contribution by one party toward the other party’s broker. The terms you sign determine the amount to put on your net sheet (TREC, form 20-19).

Ask what services are included, how compensation is calculated and when it is payable. If an offer asks for a seller contribution to the buyer’s broker, read that request alongside the price and any other concessions. A higher offer with more seller-paid items may leave a different net than it first appears to promise.

The example’s 3% is an arithmetic assumption, not a customary charge or a required fee. Replace it with the amount in your own agreement and any contribution you agree to make. On a $500,000 sale, each 1% of compensation equals $5,000: $500,000 multiplied by 0.01.

What are title, escrow and closing fees?

Texas sets the basic title insurance premium. At a $500,000 policy amount, the basic premium is $2,756 under the Texas Commissioner of Insurance order effective March 1, 2026. The premium is separate from escrow and other closing fees. Ask the title company for an itemized estimate so that a quote for the policy is not confused with a quote for the entire closing.

In Texas, the seller paying for the owner’s policy is described as a custom, not a legal requirement. The TREC contract effective July 1, 2026 has a checkbox for whether the seller or buyer pays. Read the completed contract before putting this expense in either column (Texas Real Estate Commission, form 20-19). An amendment to the survey exception is a separate election and cost.

The Texas Department of Insurance title FAQ, distinguishes title premiums from other charges. Escrow fees can differ by title agent. Under the TREC contract’s listed seller expenses, the seller pays half the escrow fee; the form also lists deed preparation, tax certificates or statements, and certain lien release charges. Request the actual fee schedule and check the signed terms rather than assuming all title-related charges are included in the basic premium.

A survey can affect the total too. The contract’s survey options allow an existing survey and the applicable affidavit or declaration to be furnished. Depending on the selected option, a seller may have to pay for a new survey if the existing one is late or not accepted. For the $500,000 example, the basic premium is $2,756 and the contract lists half the escrow fee as a seller expense. Ask the title company for its actual escrow quote.

How do property taxes and HOA charges affect your proceeds?

Collin County property tax proration

Your closing statement can include a credit to the buyer, charged against your proceeds, for your share of the year’s property taxes. The TREC contract prorates taxes through the closing date and allows an adjustment when actual statements are available. If the current year’s taxes are unpaid at closing, the contract provides for the buyer to pay them. The credit is an allocation between the parties, not necessarily a separate payment to the tax office (TREC, form 20-19).

For a Collin County, Plano ISD address, the Plano ISD board materials show a 2026 school tax rate of $1.03275 per $100 of taxable value. The Texas Comptroller explains the $140,000 school residence homestead exemption. City, county and college homestead exemptions can also affect the bill; an estimate that omits applicable local exemptions overstates a homesteader’s tax. Check the exemptions and rates for your address with the appraisal district and title company. Your taxable values, exemptions, taxing jurisdictions and closing date determine your calculation.

Give the title company your tax information and ask whether the proration uses an estimate or an actual bill. Check how a change in exemptions affects the calculation and whether an adjustment may be needed after closing. The Collin County tax assessor FAQ, explains the tax account and liability. Keep this line separate from commission and title insurance when comparing offers.

HOA resale and transfer charges

If the home has an owners association, request its current charges and documents early. A resale certificate, an update and a transfer fee are different items. The Texas Property Code provision, 2025 text, sets limits for a resale certificate and its update (Texas Property Code, Section 207.003). The association’s actual charges and the contract’s allocation matter to your net sheet.

Review the association addendum for who pays the transfer fee and ask whether any dues or assessments remain outstanding. Regular dues can also be prorated at closing under the TREC contract (TREC, form 20-19). If a special assessment is involved, review the governing documents and contract allocation rather than guessing. See the guide to a Texas HOA special assessment for questions to ask. The tax example above uses $6,468.68 through November 30, 2026, before unverified local exemptions.

How do repairs, concessions and your mortgage payoff affect your proceeds?

Prepare a separate line for work you decide to complete before listing and another for any work or credit you agree to during negotiations. A repair bill paid before closing may never appear on the closing statement, but it still affects what you keep from the move. Request written estimates before treating an unfinished project as a fixed cost.

A buyer may ask for a credit toward buyer expenses instead of, or along with, a repair. The TREC resale contract has a separate line for a seller contribution to buyer expenses (Texas Real Estate Commission, form 20-19). Compare offers using the price less each agreed contribution and your other expenses. A credit changes your net even though you do not write a separate check to a contractor. The guide to repairs versus a seller credit after inspection walks through that choice.

Your mortgage payoff is also subtracted from the proceeds, but it is not the same thing as a selling fee. Ask your loan servicer for a payoff quote for the expected closing date, including any amounts required to release the lien. Your latest statement balance may not be the final payoff figure. The TREC contract lists lien releases and associated charges among seller expenses. Tell the title company about other liens as well, so the estimate reflects what must be resolved.

Finally, proceeds and taxable gain are different calculations. The IRS home sale guidance updated October 12, 2026 describes an exclusion for qualifying sellers. The $475,775.32 subtotal above is before payoff and other unknown items, and it is not a calculation of taxable gain. Ask a tax professional how the rules and your records apply to your situation.

How do you compare the full offer?

When an offer arrives, update the same net sheet with the proposed price, brokerage contributions, buyer expense credit and any repairs. Confirm the title-policy selection, survey terms and association addendum. Then ask the title company to update the closing estimate and request a payoff quote for the expected date. A change in closing date may change prorations and payoff figures.

If you are also comparing nearby markets, the guides to selling costs in McKinney and selling costs in Frisco provide related context. For the $500,000 example, the known selling and tax lines total $24,224.68 before the remaining expenses and payoff. Use the contract and tax details for your property when comparing offers.

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