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Michigan Home Seller Net Proceeds Calculator

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Picking a city applies the correct local transfer tax automatically.

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Brokerage Commissions

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Total Commissions$0.00

Estimated Net Proceeds

-$750.00

Sale Price$0.00
Commissions- $0.00
Mortgage Payoff- $0.00
Total Transfer Tax (effective 0.00%)- $0.00
Owner's Title Insurance- $0.00
Escrow / Closing Fee- $0.00
Attorney Fee- $750.00
Recording Fee- $0.00

Michigan transfer taxes are state-, county-, and municipality-specific. Title insurance, escrow, attorney, and recording fees vary by provider. Consult your closing attorney or title company for exact figures.

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Selling a Home in Michigan

Michigan sellers pay both a state and a county Real Estate Transfer Tax at closing — 0.75% state plus 0.11% county for a combined seller rate of 0.86% of the sale price. On top of transfer tax, sellers pay agent commissions, the owner's title insurance policy, settlement fees, and recording fees.

Michigan Transfer Tax & Closing Costs

Michigan closings are handled by title companies. The seller customarily pays the full state and county transfer tax and the owner's title insurance policy; closing fees are typically split with the buyer.

How to Estimate Your Michigan Net Proceeds

  1. Sale Price: Start with the agreed-upon contract price.
  2. Mortgage Payoff: Subtract your remaining loan balance and accrued interest through closing.
  3. Transfer Taxes: Apply the state, county, and any municipal transfer tax owed by the seller.
  4. Closing Costs: Deduct commissions, owner's title insurance, attorney/escrow, and recording fees.

Michigan Net Proceeds = Sale Price − Mortgage Payoff − Commissions − Transfer Taxes − Closing Costs

Key Factors to Consider

  • MI State Transfer Tax (Seller-Paid): $3.75 per $500 of sale price (0.75%) — the State Real Estate Transfer Tax (SRETT), collected at recordation.
  • MI County Transfer Tax: $0.55 per $500 of sale price (0.11%) — paid in addition to the state tax in every Michigan county.
  • Principal Residence Exemption: Sellers who held the property as a principal residence and meet certain SEV-based requirements may qualify for a SRETT refund. Confirm eligibility with your title company.
  • Title Insurance: Title insurance premiums in Michigan are not state-promulgated. The seller customarily pays the owner's policy that protects the buyer.
  • Closing Fees: Closings are handled by title companies; settlement fees are typically split with the buyer.

Why use this tool?

Most national net-sheet calculators ignore Michigan's layered transfer tax structure — state, county, and municipal — and silently understate closing costs by thousands of dollars. This calculator applies the correct rates for the city you select so the bottom line reflects what you'll actually walk away with.

Need more accuracy?

This tool provides general estimates only. Confirm exact figures with your closing attorney or title company, and consult a qualified tax professional regarding state and federal capital gains or other obligations specific to your sale.

Michigan Seller FAQ