Seller Net Proceeds Sheet
Estimated seller net proceeds, itemized selling costs, the property-tax proration, and the effective cost of sale percent.
Formula and source
commission = price*rate; transfer_tax = price*rate; tax_proration = annual_tax*days_seller_owes/365; net = price - payoff - commission - transfer_tax - fees - concessions - proration - other.
Per the TILA-RESPA Integrated Disclosure / Closing Disclosure (12 CFR 1026.38) and RESPA (12 CFR 1024), by name; the transfer-tax rate is state/local and user-supplied.
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