How Much Will I Net Selling My Home? The Truth About Washington REET & Closing Costs

The $1M Sale That Isn't Actually $1M

Most sellers look at a million-dollar sale and think, “I’m getting a million dollars.”

Unfortunately, the math isn't that simple. On a $1,050,000 home in Queen Anne, seller closing costs can easily eat up $65,000 to $80,000. And if you aren't prepared for that, your next move could be at risk.

The Big Shock: Washington’s Graduated REET Tax

The biggest surprise for most sellers is the Washington Real Estate Excise Tax (REET). In 2026, we are still operating under a graduated scale that catches many off guard. For a $1.05M sale, you aren't just paying a flat fee; you're being taxed in tiers:

• 1.10% on the first $525,000

• 1.28% on the portion up to $1,525,000

• Plus local city/county taxes (typically an additional 0.5% in our region)

Before you sign that listing agreement, you need to know exactly what comes off the top. Because sale price and net proceeds are two very different numbers.

Where Does the Money Go?

When we sit down to look at your home’s value, we aren't just looking at the top-line number. We are mapping out:

• Real Estate Commission: The cost of expert marketing and negotiation.

• REET Tax: That state-mandated "entry fee" to sell.

• Title & Escrow Fees: Ensuring the transfer is legal and insured.

• Prorated Property Taxes: Settling up with the county.

• Mortgage Payoff: Clearing your existing debt.

Why the "Net Sheet" is Your Most Important Document

This is where mistakes happen. People assume they have enough for their next down payment or retirement plan based on the sales price. Then closing day comes, and there’s panic because the check is smaller than expected.

This is why I run net proceeds scenarios before anyone lists.

Before photography. Before staging. Before we even talk about timing. We look at the "What You Keep" number.

Strategic Authority

Sometimes the numbers show us that selling now is a win. Other times, I might suggest waiting or making specific improvements to push your net higher. But we make those decisions based on data, not guesswork.

Ready for Clarity?

If you’re wondering, “What would I actually net if I sold today?” message me "NET". I’ll help you run a custom seller net sheet for your specific property. No pressure just the clarity you need to make a big decision.