Selling a homeAll terms starting with N
Net proceeds
Also called: seller net, net sheet
What a seller actually receives after loan payoff, commissions, and closing costs are deducted from the sale price.
Sale price is the headline; net proceeds is the number that reaches you. Subtract the mortgage payoff, brokerage compensation, seller-side closing costs, any agreed concessions, and prorated taxes.
Payoff is not the same as your last statement balance. It includes interest through the payoff date and any fees.
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Related terms
- Closing costsThe lender, title, and third-party fees due at closing: separate from your down payment.
- Seller concessionsMoney the seller contributes toward the buyer’s closing costs, capped by the loan program.
- EquityThe difference between what a property is worth and what is owed against it.
- Settlement (closing)The meeting where documents are signed, funds are disbursed, and ownership transfers.
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