Sellers naturally focus on the asking price. But the number that matters for your next move is your net proceeds: what is left after the mortgage payoff, closing costs, taxes and the time it takes to sell. Two offers with the same price can leave you with very different amounts.
Start with an honest net sheet
Before we talk about list price, I prepare an estimate of what you would walk away with at a few different sale prices. A typical New Jersey seller net sheet includes:
- Mortgage payoff and any home equity line, including interest to the closing date.
- Realty transfer fee, paid by the seller and graduated by price.
- The “mansion tax” on sales over $1 million. Since July 2025, the seller pays it, on a graduated scale from 1% of the full price (over $1M) up to 3.5% (over $3.5M). On a $2.1 million sale that is 2% of the whole price, so the tier you land in matters.
- Brokerage compensation, as agreed in your listing agreement.
- Attorney fees, since New Jersey sales are typically handled by attorneys after a three-business-day attorney review period.
- Prorations for property taxes, condo or HOA fees, and utilities.
- Resale certificates and inspections required by the state or town.
- Any credits you agree to give the buyer.
Because the mansion tax applies to the entire price once you cross a threshold, a sale at $2,010,000 can net less than a sale at $1,995,000. We look at these breakpoints before setting a price or accepting an offer.
Carrying costs are part of the price
Every month on the market costs money: mortgage interest, property taxes, insurance, utilities, condo fees and, if you have moved, a second housing payment. A home priced ambitiously that sits for three extra months can net less than one priced well that sells in three weeks, even at a slightly lower number.
Long days on market also change how buyers see the home. They start asking what is wrong with it, and offers tend to come in lower.
Compare offers by what they deliver, not just their price
| Term | Why it matters to your net |
|---|---|
| Financing | Cash or a larger down payment lowers the risk of the deal failing. |
| Appraisal terms | An appraisal gap clause protects the price if the bank’s value comes in low. |
| Inspection scope | A narrower inspection contingency means fewer renegotiations. |
| Closing date | The right date can save a month of carrying costs or a short-term rental. |
| Credits requested | A $15,000 credit is a $15,000 price cut. |
| Contingency on another sale | Adds time and uncertainty you do not control. |
Setting the asking price
Pricing well is about evidence, not optimism: recent comparable sales, what is actively competing with you, condition and features, and where buyers search. Online search filters work in round numbers, so a price just above a common filter (for example $1,010,000) can hide your home from buyers whose limit is $1 million.
My goal is to give you a range with reasons behind it, show you the likely net at each end of that range, and let you choose with the numbers in view.
Taxes and fees are summarized for general guidance and can change. Your closing attorney and tax advisor will confirm the exact figures for your sale.
Want to talk it through?
I am happy to look at your property, your timing and your numbers, with no obligation.