Most sellers picture their sale price as the number they’ll walk away with. It isn’t. Between commission, your mortgage payoff, Michigan closing costs, and whatever gets negotiated during inspection, your actual net can land well below your list price. None of that means anything went wrong. It just means nobody showed you the math yet.
Here’s exactly where that money goes.
Commission
Commission is the first line item, and it’s the one most sellers already expect. What surprises people is that it’s negotiated, not fixed. It’s worth understanding how commissions actually work in Metro Detroit before you sign a listing agreement, so you know what you’re agreeing to and why.
Your Mortgage Payoff
Your mortgage payoff is not the balance on last month’s statement. It includes per diem interest calculated all the way to your actual closing date. If you’re anywhere close to a payoff milestone, the exact date you close can shift that number. I always order a payoff statement early in the listing process so this never becomes a surprise.
Michigan Closing Costs
As the seller, you’re typically covering state and county transfer tax, the buyer’s title insurance policy, and your prorated share of property taxes for the year. These aren’t optional line items. They’re simply part of selling a home in Michigan, and they add up faster than most people expect.
Repairs and Negotiated Credits
Whatever gets negotiated during inspection, whether that’s a repair credit, concessions, or a price adjustment after appraisal, comes off your bottom line too. Knowing what’s actually worth fixing before you list is one of the easiest ways to protect this number.
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What This Looks Like on a Real Sale
On a recent $350,000 sale, once commission, the mortgage payoff, Michigan closing costs, and negotiated repair credits came off the top, my seller’s actual net was under $300,000. That’s simply what selling a home costs. Knowing that number ahead of time is what let her plan her next move with confidence instead of getting a surprise at the closing table.
If you’re even thinking about selling this year in Gibraltar, Flat Rock, Rockwood, Trenton, Woodhaven, Grosse Ile, or anywhere in Metro Detroit, run your own numbers through my free Seller Net Calculator before you list. It takes a couple of minutes and it’s the single best way to know exactly where you stand.
Run Your Numbers: Seller Net Calculator
What Sellers Are Asking About Closing Costs in Michigan
Who pays closing costs when selling a house in Michigan?
As the seller, you typically cover state and county transfer tax, the buyer’s title insurance policy, and your prorated share of property taxes for the year. Some costs are also negotiated between buyer and seller as part of the offer.
How much does it cost to sell a house in Michigan?
It depends on your sale price, your remaining mortgage balance, and what gets negotiated during inspection, but between commission, transfer tax, title costs, and prorated taxes, most sellers should plan for these costs to take a meaningful bite out of their sale price. Running your specific numbers through a seller net calculator is the most accurate way to know your real number.
Is my mortgage payoff the same as my loan balance?
No. Your payoff includes per diem interest calculated to your actual closing date, so it’s typically higher than the balance shown on your most recent statement.
Do I have to fix everything an inspector flags?
No. Some repairs are worth addressing before you list, and others are better left for buyer negotiation. Getting this wrong is one of the most common ways sellers lose money they didn’t need to.
Do I need a Seller Net Calculator before I list?
It’s the fastest way to see your real numbers instead of guessing based on your sale price alone. I offer a free one for exactly this reason.