Direct answer
What does Seller's net mean?
The amount a seller retains after subtracting transaction costs, liens, prorations and other seller charges from sale proceeds.
Exam cue: Work backward carefully when the requested net is stated as a target.
What does it look like in a question?
New York example
A seller's gross proceeds are reduced by commission, transfer charges and mortgage payoff.
Common exam trap
What should you not confuse it with?
Seller's net is not the same as taxable gain.
Related real estate math terms
AcreA land-area unit equal to 43,560 square feet.AreaThe amount of surface within a two-dimensional boundary.Capitalization rateA rate that relates a property's net operating income to its value or price.CommissionCompensation paid for brokerage services under an agreement.MillA property-tax rate unit equal to one dollar of tax per one thousand dollars of taxable value.PercentageA ratio expressed as a part of one hundred and written with the percent symbol.
Sources used1 reference with section locators
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