When people ask what their home is worth, the real question is usually: “What will I walk away with?” Here’s a breakdown of the typical costs of selling a home in Pierce County, so the numbers don’t surprise you at closing.
1. Washington real estate excise tax
Washington charges a real estate excise tax (REET) on most home sales, and the seller usually pays it. The state rate is graduated: it starts at 1.1% of the sale price and rises in tiers on higher-priced homes. Most cities and counties add a local portion on top, often around 0.5%.
The tier amounts are adjusted from time to time, so I’ll calculate the exact figure for your sale on your net sheet.
2. Brokerage commission
Commission is the fee for marketing your home and representing you through closing. Commissions are negotiable and not set by law, and how buyer-agent compensation is handled is something we’ll decide together when we list. I’ll explain every option before you sign anything.
3. Title insurance and escrow
In our area, sellers commonly pay for the buyer’s owner’s title insurance policy, and escrow fees are often split between buyer and seller. These vary by sale price and company.
4. Payoffs and prorations
- Your mortgage payoff, including interest through the closing date
- Property taxes prorated to the closing date
- HOA dues and transfer fees, if you have an HOA
- Utilities and any final water or sewer bills
5. Repairs, credits, and prep
After inspection, buyers may ask for repairs or a credit. Before listing, a few small fixes, a deep clean, or fresh paint can pay for themselves, but many projects don’t. I’ll tell you which ones are worth it.
How to estimate your net
A simple way to think about it:
Sale price − loan payoff − excise tax − commission − title/escrow − credits and repairs = your estimated proceeds
Every seller I work with gets a written net sheet with real numbers for their home before they list, so you can plan your next move with confidence.
What if you owe more than it’s worth?
If the math shows you’d owe money at closing, you may still have options, including a short sale. Learn how short sales work.
Get your number
Want to know what you’d actually walk away with? Request a free home value and net sheet, or call 253-247-2245.