Maryland
What Each Spouse Gets From a Divorce Home Sale
A net sheet shows what the sale puts in each spouse's pocket after the mortgage, commissions, repairs, taxes, and carrying costs. Run it before you list. Most people look at the sale price and forget the rest. The price is not your number. The net is.
By Marc Cormier
Licenses: Maryland #620443 | Virginia #0225175181 | DC #SP98365998 | Berkshire Hathaway HomeServices
27+ years in real estate. 800+ closed transactions.
Certified as a Certified Divorce Real Estate Expert (CDRE) in 2014.
On this page
What is a divorce net sheet?
A net sheet lists every dollar that comes out of the sale price. What is left is the net. You and your spouse split the net, or your agreement or the court decides the split.
A worked example
Round numbers for teaching. Your house will differ.
| Line | Amount |
|---|---|
| Sale price | $750,000 |
| Mortgage payoff | minus $300,000 |
| Commission, example rate of 6% | minus $45,000 |
| Closing costs | minus $8,000 |
| Repairs | minus $14,000 |
| Net before taxes | $383,000 |
| Each spouse, even split | $191,500 |
The 6% commission is an example rate and is negotiable. Your listing agreement sets the actual rate.
Carrying costs are separate, at about $3,500 a month (mortgage interest, taxes, insurance, utilities), and are not inside the net above.
What the example leaves out
- Maryland transfer and recordation taxes. Who pays which part is a negotiation and a local custom.
- Payoff extras: late fees, unpaid HOA dues, liens, second mortgage or HELOC. Ask the title company for a payoff letter on every loan.
- Attorney fees and court costs. Your attorney tells you the number.
- Moving costs.
Does the net still work if the sale goes badly?
Stress test the same house.
| Line | Amount |
|---|---|
| Sale price (5% lower) | $712,500 |
| Mortgage payoff | minus $300,000 |
| Commission, example rate of 6% | minus $42,750 |
| Closing costs | minus $8,000 |
| Repairs | minus $14,000 |
| Net before taxes | $347,750 |
| Each spouse, even split | $173,875 |
Check the math: $712,500 minus $300,000 is $412,500. Minus $42,750 is $369,750. Minus $8,000 is $361,750. Minus $14,000 is $347,750. Half is $173,875.
Carrying costs are not inside the net. If the house sits longer, add them as a separate labeled line at $3,500 a month.
The lesson: a 5% price miss on the same house cuts the net from $383,000 to $347,750 before any carrying costs. Overpricing does not buy you more money. It buys you carrying costs.
Who pays what while the house is listed?
Decide this in writing before you list.
- Who pays the mortgage, taxes, insurance, and utilities each month
- Whether that spouse gets repaid from the proceeds
- Who approves repairs and staging, and the dollar cap
- Who approves price drops, and how long you wait before one
How the money gets split
The title company pays off the mortgage and costs first.
The remaining proceeds go where your agreement or the court's order says.
Where net sheets go wrong
- Using the Zestimate or the neighbor's price. A neighbor's price tells you nothing about your condition.
- Leaving out carrying costs. Four months at $3,500 is $14,000.
- Leaving out taxes. The bill comes after you spend the money.
- Running one number. Run three: good case, expected case, bad case.
- Pricing with emotion. Emotion costs people money.
The buyout version (if one spouse wants to keep the home)
Value $600,000. Mortgage $250,000.
| Line | Amount |
|---|---|
| Home value | $600,000 |
| Mortgage balance | minus $250,000 |
| Equity | $350,000 |
| Even split buyout ($350,000 divided by 2) | $175,000 |
The spouse who keeps the home also refinances, pays loan closing costs, and carries the house alone.
Ask a lender first if the keeping spouse qualifies alone. Compare this to a sale before you decide. Nobody should pick based on pride.
Questions about a divorce net sheet
What is a net sheet?
A list of every cost that comes out of the sale price. What is left is your net.
Do you charge for a net sheet?
No. It is part of the confidential consultation.
Do you need a divorce attorney?
You should have your own. I am a real estate agent. I do not give legal advice, and I do not work for one spouse against the other.
I am not affiliated with any law firm. I do not recommend one attorney over another. Your spouse needs their own attorney, not yours.
If you need to find one, start with the bar association referral services:
- Find a lawyer through your county bar association
- Bar Association of Montgomery County, Maryland, Lawyer Referral Service
| What an attorney handles | What I handle |
|---|---|
| Who gets the house and the money | The value of the house |
| The marital settlement agreement | The net sheet |
| Court orders that affect the sale | Listing, showings, offers, and closing |
| Custody, support, and everything outside real estate | A written record of every showing and decision |
General information only. Not legal, tax, or financial advice. The referral services are independent of me. I do not guarantee any attorney's work or results.
General information only. Not legal, tax, or financial advice. Examples use made-up numbers.
Get the numbers before you decide
Start with a confidential 30-minute conversation. I will explain your options, run a net sheet, and tell you what usually goes wrong with houses like yours.
(301) 660-6272 Marc@Help34.com
Marc works with families across Maryland, including Montgomery, Prince George's, Howard, and Frederick counties, plus DC and Northern Virginia.
Confidential. I do not share your information.