Seller Net Sheet Calculator

Q: How much is the county transfer tax in Michigan?

The county transfer tax in Michigan is $0.55 per $500 of the sale price, or $1.10 per $1,000. On a $350,000 home, the county transfer tax would be $385.

Enter Your Sale Details

Fill in the fields below for a comprehensive Michigan seller net sheet with all applicable taxes and fees calculated automatically.

Sale Price ($)

Mortgage Payoff Balance ($)

Total Commission (%)

HOA Prorations ($)

Repairs & Credits ($)

Other Costs ($)

Auto-Calculated Michigan Costs

State transfer tax, county transfer tax, title insurance estimate, recording fees, and payoff wire fee are calculated automatically based on your sale price. No need to enter them manually.

Detailed Net Sheet

Sale Proceeds

Sale Price $0.00

Loan Payoff

Mortgage Payoff -$0.00

Payoff Wire Fee -$35.00

Commission

Agent Commission -$0.00

Michigan Transfer Taxes

State Transfer Tax ($7.50/$1,000) -$0.00

County Transfer Tax ($1.10/$1,000) -$0.00

Title & Closing

Title Insurance (est. 0.5%) -$0.00

Recording Fees -$30.00

Other Costs

HOA Prorations -$0.00

Repairs & Credits -$0.00

Other Costs -$0.00

Total Costs & Deductions -$0.00

Estimated Net Proceeds $0.00

Estimates only. Actual figures may vary based on title company, lender, and negotiated terms.

Michigan Specifics

Understanding Michigan Seller Costs

Michigan has specific transfer taxes and closing requirements that differ from other states. Here is a detailed breakdown of each cost.

State Transfer Tax

Michigan charges $3.75 per $500 of the sale price, which equals $7.50 per $1,000. This tax is levied by the State of Michigan and is typically paid by the seller at closing. On a $350,000 sale, the state transfer tax is $2,625.

County Transfer Tax

In addition to the state tax, each county charges $0.55 per $500 of sale price, or $1.10 per $1,000. On a $350,000 sale, this adds $385. This is a standard rate across most Michigan counties and is the seller's responsibility.

Title Insurance

An owner's title insurance policy protects the buyer against title defects. In Michigan, it is customary for the seller to pay for the buyer's title insurance policy. The cost is approximately 0.5% of the sale price, varying slightly by title company.

Recording Fees

The county register of deeds charges a fee to record the deed transfer and any related documents. In Metro Detroit counties, this fee is typically around $30. It is a flat fee that does not vary by sale price.

Payoff Wire Fee

When your mortgage is paid off at closing, the title company sends the payoff to your lender via wire transfer. This wire fee is typically $35. Some lenders may charge an additional payoff processing fee on their end.

Property Tax Prorations

Property taxes are prorated between buyer and seller at closing based on the closing date. If you have prepaid taxes, you may receive a credit. If taxes are in arrears, the amount owed through closing is deducted from your proceeds.

$7.50

State Tax per $1,000

$1.10

County Tax per $1,000

0.5%

Title Insurance (Est.)

$65

Recording + Wire Fees

Common Questions

Frequently Asked Questions

What is the Michigan state transfer tax rate?

The Michigan state transfer tax is $3.75 per $500 of the sale price, which works out to $7.50 per $1,000. For example, on a $300,000 sale, the state transfer tax would be $2,250. This tax is set by state law and cannot be negotiated.

How much is the county transfer tax in Michigan?

The county transfer tax is $0.55 per $500 of the sale price, or $1.10 per $1,000. This rate is consistent across most Michigan counties. On a $300,000 home, the county transfer tax would be $330. Combined with state transfer tax, the total transfer tax on a $300,000 sale is $2,580.

Who pays for title insurance in Michigan?

In Michigan, it is customary for the seller to pay for the owner's title insurance policy that protects the buyer. The buyer typically pays for their lender's title insurance policy if they are financing the purchase. The cost is approximately 0.5% of the sale price, though exact rates vary by title company and sale price tier.

Are there any transfer tax exemptions in Michigan?

Yes. Common exemptions include transfers between spouses, transfers to a trust where the grantor is the beneficiary, transfers pursuant to a court order, and transfers where the value is less than $100. Consult with your real estate attorney or title company to determine if your transaction qualifies for any exemptions.

How accurate is this seller net sheet calculator?

This calculator uses the actual Michigan transfer tax rates and standard closing cost estimates. However, exact costs vary by title company, lender payoff amounts change daily, and property tax prorations depend on your closing date. For the most accurate net sheet, contact Daryl Wizinsky at (248) 716-6077 for a personalized analysis based on your specific situation.