New Jersey Seller Net Sheet
What Your House Actually Nets You in New Jersey
Every seller asks the same question after
"what's my home worth?"
and that question is...
"what will I actually walk away with?"
That number is sometimes more important than what your home is worth.
This calculator answers that for New Jersey specifically, which matters more than you'd expect.
New Jersey has its own Realty Transfer Fee (RTF), its own graduated percent fee on higher-priced homes (the 'Mansion Tax'), and a withholding rule for out-of-state sellers that catches people completely off guard.
National calculators miss all three — and most of them are still running rules that changed in July 2025.
How much will I net selling my house in New Jersey?
Your net is the sale price minus commission, the New Jersey Realty Transfer Fee, the graduated percent fee if the price exceeds $1 million, your mortgage payoff, attorney fees, municipal certificates, and any concessions or repairs. Selling costs in New Jersey commonly run about 6 to 10 percent of the sale price, before the mortgage payoff is subtracted.
Who pays the mansion tax in New Jersey?
The seller pays it. For contracts fully executed on or after July 10, 2025, New Jersey eliminated the 1 percent fee that buyers previously paid on sales above $1 million and replaced it with a graduated percent fee charged to the seller, ranging from 1 percent to 3.5 percent depending on the sale price.
Can a higher sale price net a New Jersey seller less money?
Yes. New Jersey's graduated percent fee applies its rate to the entire sale price rather than only the portion above the threshold, so crossing a bracket raises the fee on every dollar. A home sold for $2,000,001 owes 2 percent, or about $40,000, while a home sold for $2,000,000 owes 1 percent, or $20,000. A seller at $2,010,000 nets roughly $10,800 less than a seller at $2,000,000, and would need to clear about $2,021,800 to come out ahead.
What is the New Jersey exit tax on a home sale?
It is not actually a tax. Non-resident sellers of New Jersey property that was not their principal residence must make an estimated Gross Income Tax payment at closing, equal to 10.75 percent of the gain or 2 percent of the sale price, whichever is greater. The payment is credited against the seller's actual New Jersey tax when they file, so many sellers recover part or all of it. Sellers who still live in New Jersey file Form GIT/REP-3 and pay nothing at closing.
Do I pay the New Jersey exit tax if I moved out of state?
Not necessarily. If the home was your principal residence under federal rules, which generally means your main home for at least two of the five years before the sale, you can claim an exemption on Form GIT/REP-3 and nothing is held at closing, even if you now live in another state. If your gain is larger than the federal exclusion, you can make an estimated payment to the state after closing instead. Investment property, second homes, and homes that no longer qualify as a principal residence don't get this exemption.
What is the New Jersey Realty Transfer Fee (RTF)?
The Realty Transfer Fee, commonly abbreviated RTF, is a fee the seller pays on nearly every New Jersey property transfer, calculated per $500 of consideration in graduated bands. Unlike the graduated percent fee often called the mansion tax, the RTF is marginal, so only the portion of the price within each band is charged at that band's rate. Sellers who are 62 or older, blind, or disabled, and transfers of low and moderate income housing, may qualify for a partial exemption that reduces the fee by roughly half.
What closing costs does a seller pay in New Jersey?
Typical New Jersey seller costs include real estate commission, the Realty Transfer Fee, the graduated percent fee on sales above $1 million, attorney fees of roughly $1,500 to $3,000 in North Jersey, a smoke alarm and carbon monoxide certificate priced by how much notice is given, a municipal certificate of occupancy or resale inspection where required, final water and sewer readings, recording and discharge fees, and seller-side title work. The buyer pays for title insurance in New Jersey.
Buying your next home too? Estimate your closing costs with my New Jersey Buyer Closing Cost Calculator.
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