Free Long Lake, Michigan seller net sheet calculator
Closing costs, transfer taxes and who pays what when selling a home in Long Lake, Michigan (Grand Traverse County). The calculator applies the local rates for you.
- Median home value
- $362,600
- Transfer tax on $365,000
- $3,139
- Seller costs on $365,000
- About $23,228
- Median property tax bill
- $3,278 a year
- County
- Grand Traverse County
- Population
- 10,068
Long Lake transfer tax
On a $365,000 sale in Long Lake, transfer taxes come to $3,139: State real estate transfer tax and County real estate transfer tax. By custom the seller pays it.
| Tax | Rate | Paid by | On $365,000 |
|---|---|---|---|
| State real estate transfer tax | $3.75 per $500 | Seller | $2,737.50 |
| County real estate transfer tax | $0.55 per $500 | Seller | $401.50 |
| Sale price | Seller pays | Buyer pays | Total |
|---|---|---|---|
| $250,000 | $2,150 | $0 | $2,150 |
| $365,000 local median value | $3,139 | $0 | $3,139 |
| $500,000 | $4,300 | $0 | $4,300 |
| $1,000,000 | $8,600 | $0 | $8,600 |
Example Long Lake seller net sheet
A $365,000 sale, close to Long Lake's median home value of $362,600, with a 5% commission and a $220,000 mortgage payoff. Seller costs come to about $23,228, or 6.4% of the price.
| Line | Seller |
|---|---|
| Sale price | $365,000 |
| First mortgage payoff | −$220,000 |
| Real estate commission (5%) | −$18,250 |
| State real estate transfer tax | −$2,737.50 |
| County real estate transfer tax | −$401.50 |
| Owner's title insurance policy | −$1,414 |
| Settlement / closing fee | −$350 |
| Release / satisfaction recording | −$30 |
| Wire / courier / payoff processing | −$45 |
| Estimated net before property tax prorations | $121,772 |
Who pays what in Long Lake
Long Lake closings follow Grand Traverse County customs. In Grand Traverse County, the seller customarily pays the owner's title policy. The settlement fee is paid by each side for its own closing. Closings are usually handled by a title company.
Property taxes in Long Lake
The median property tax bill for homeowners in Long Lake is $3,278 a year, about 0.9% of the median home value of $362,600 (Census Bureau American Community Survey, 2019-2023). Taxes here are paid in advance, so at closing the bill is prorated between buyer and seller to the closing date. Summer (Jul 1) and winter (Dec 1) bills. Most of Michigan prorates as if taxes are paid in advance for the 12 months following the bill (due-date method); seller is credited for prepaid months. Some areas use the calendar-year method.
Rates verified 2026-09-29. Home value and tax bill: Census Bureau American Community Survey, 2019–2023. A net sheet is an estimate; final figures come from the title company.
Long Lake seller questions
How much is the transfer tax in Long Lake, Michigan?
On a $365,000 sale in Long Lake, transfer taxes come to $3,139: State real estate transfer tax and County real estate transfer tax. By custom the seller pays it.
How much are seller closing costs in Long Lake?
On a $365,000 sale, close to the median home value in Long Lake, with a 5% commission, estimated seller costs are about $23,228 (6.4% of the price). Without commission they are about $4,978. The loan payoff and property tax proration change the final number.
What county is Long Lake in, and does it matter at closing?
Long Lake is in Grand Traverse County, Michigan. County and state rules set the transfer taxes and recording fees, and local custom decides who pays for title and closing. In Grand Traverse County, the seller customarily pays the owner's title policy. The settlement fee is paid by each side for its own closing.
How much are property taxes in Long Lake?
The median property tax bill for homeowners in Long Lake is $3,278 a year, about 0.9% of the median home value of $362,600 (Census Bureau American Community Survey, 2019-2023). Taxes here are paid in advance, so at closing the bill is prorated between buyer and seller to the closing date. Summer (Jul 1) and winter (Dec 1) bills. Most of Michigan prorates as if taxes are paid in advance for the 12 months following the bill (due-date method); seller is credited for prepaid months. Some areas use the calendar-year method.
Other cities in Grand Traverse County
Build your Long Lake net sheet in minutes.
Free to use. No account needed to try it.