Free Russell County, Virginia seller net sheet calculator
Closing costs, transfer taxes and who pays what when selling a home in Russell County. The calculator applies Virginia and Russell County rates for you.
- Median home value
- $119,600
- Transfer tax on $120,000
- $520
- Seller costs on $120,000
- About $6,647
- Median property tax bill
- $644 a year
- Owner's title policy
- Buyer pays
- Population
- 25,635
Russell County transfer tax
On a $120,000 sale in Russell County, transfer taxes come to $520: Grantor's tax, State recordation tax on deed (grantee) and Local recordation tax on deed (one-third of state). By custom the seller pays $120 of that and the buyer $400. A buyer who finances 80% of the price also pays $320 in mortgage taxes (State recordation tax on deed of trust and Local recordation tax on deed of trust).
| Tax | Rate | Paid by | On $120,000 |
|---|---|---|---|
| Grantor's tax | $0.50 per $500 ($1.00 per $1,000) | Seller | $120 |
| State recordation tax on deed (grantee) | $0.25 per $100 | Buyer | $300 |
| Local recordation tax on deed (one-third of state) | $0.0833 per $100 | Buyer | $100 |
| State recordation tax on deed of trust | $0.25 per $100 | Buyer | $240 |
| Local recordation tax on deed of trust | $0.0833 per $100 | Buyer | $80 |
| Sale price | Seller pays | Buyer pays | Total |
|---|---|---|---|
| $120,000 local median value | $120 | $400 | $520 |
| $250,000 | $250 | $833.33 | $1,083.33 |
| $500,000 | $500 | $1,666.67 | $2,166.67 |
| $1,000,000 | $1,000 | $3,333.33 | $4,333.33 |
Example Russell County seller net sheet
A $120,000 sale, close to the county's median home value of $119,600, with a 5% commission and a $70,000 mortgage payoff. Seller costs come to about $6,647, or 5.5% of the price.
| Line | Seller |
|---|---|
| Sale price | $120,000 |
| First mortgage payoff | −$70,000 |
| Real estate commission (5%) | −$6,000 |
| Grantor's tax | −$120 |
| Settlement / closing fee | −$450 |
| Release / satisfaction recording | −$27 |
| Wire / courier / payoff processing | −$50 |
| Estimated net before property tax prorations | $43,353 |
Who pays what in Russell County
In Russell County, the buyer 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 or attorney.
Property taxes in Russell County
The median property tax bill for homeowners in Russell County is $644 a year, about 0.54% of the median home value of $119,600 (Census Bureau American Community Survey, 2019-2023). Taxes here are paid in arrears, so at closing the bill is prorated between buyer and seller to the closing date. Most localities bill the calendar year in two halves (e.g., Fairfax due Jul 28 and Dec 5), each covering the preceding half-year; seller credits buyer for unpaid days.
Rates verified 2026-09-30. 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.
Russell County seller questions
How much is the transfer tax in Russell County, Virginia?
On a $120,000 sale in Russell County, transfer taxes come to $520: Grantor's tax, State recordation tax on deed (grantee) and Local recordation tax on deed (one-third of state). By custom the seller pays $120 of that and the buyer $400. A buyer who finances 80% of the price also pays $320 in mortgage taxes (State recordation tax on deed of trust and Local recordation tax on deed of trust).
How much are seller closing costs in Russell County?
On a $120,000 sale, close to the median home value in Russell County, with a 5% commission, estimated seller costs are about $6,647 (5.5% of the price). Without commission they are about $647. The loan payoff and property tax proration change the final number.
Who pays for title insurance and closing fees in Russell County?
In Russell County, the buyer 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 or attorney.
How much are property taxes in Russell County?
The median property tax bill for homeowners in Russell County is $644 a year, about 0.54% of the median home value of $119,600 (Census Bureau American Community Survey, 2019-2023). Taxes here are paid in arrears, so at closing the bill is prorated between buyer and seller to the closing date. Most localities bill the calendar year in two halves (e.g., Fairfax due Jul 28 and Dec 5), each covering the preceding half-year; seller credits buyer for unpaid days.
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