A seller net sheet is a line-by-line estimate that starts with your agreed sale price and works down to the cash you will actually receive at closing. In Greater Boston, whether you’re in Boston proper, Brookline, or Quincy, the list of deductions is longer than most sellers expect. The categories are specific to Massachusetts law and local practice. Understanding each line before you list means no surprises at the closing table.
The Categories That Move Your Number
To see the full cost framework behind each of these lines, see Massachusetts smoke and CO detector certificate requirements for sellers and 6(d) condo certificate requirements for Boston sellers — two certifications that can delay closing if you schedule them too late.
Broker Compensation
The largest single line on most net sheets is the listing fee you agreed to in your listing agreement. Broker fees and commissions are fully negotiable and not set by law; there is no standard, typical, or customary rate. The fee you pay is the one you negotiated. Any compensation a seller chooses to offer a buyer’s agent is a separate, optional, and independently negotiable decision; it is not automatically bundled into a single combined commission, and it is no longer shared through the MLS.
Massachusetts Deed Excise Tax
This is set by statute under M.G.L. c.64D. Massachusetts imposes a deed excise tax whenever a deed is recorded transferring real property for consideration over $100. The statewide rate is $4.56 per $1,000 of sale price. For Boston properties, the deed is recorded at the Suffolk County Registry of Deeds; for Brookline and Quincy, it goes to the Norfolk County Registry of Deeds. In practice, Massachusetts purchase and sale agreements typically allocate this tax to the seller, but it is negotiable, and your contract controls.
Attorney Fees and Recording Charges
Massachusetts is an attorney-closing state. Real estate closings here are considered the practice of law; a licensed attorney must conduct the closing and disburse funds. There are no title-company-only closings in Massachusetts. Your closing statement will include a line for the closing attorney’s fee and separate lines for recording the deed at the registry. Sellers often retain their own attorney to review the deed and closing documents, which is a separate fee.
Required Certificates and Inspections
Smoke and CO detector compliance certificate: Sellers must obtain a smoke and carbon monoxide detector compliance certificate from the local fire department before closing. If detectors or wiring need upgrading to pass, that repair cost hits your net sheet too.
Title 5 septic inspection (where applicable): If your property uses a private septic system rather than municipal sewer, Massachusetts Title 5 regulations require an inspection within two years before transfer. If the system fails inspection, repair or replacement costs can be substantial and will directly affect your net proceeds.
Lead paint disclosure (pre-1978 homes): A significant portion of Boston, Brookline, and Quincy housing stock was built before 1978. Massachusetts law requires the seller to provide the Property Transfer Lead Paint Notification before the purchase and sale agreement is signed. If deleading work is needed, those costs flow through to your net.
6(d) certificate for condos: If you are selling a condo, the closing attorney will require a 6(d) certificate under M.G.L. c.183A S6(d). This document, issued by your condo association or management company, certifies that all common expenses and assessments are paid through a stated date. Any unpaid charges or special assessments will appear on your closing statement.
Prorations and Mortgage Payoff
Prorations are the adjustments that account for costs already paid or not yet paid that straddle your closing date. Real estate taxes, condo fees, fuel, and prepaid rents on multi-family properties are all prorated to the closing date. If you carry a mortgage, the payoff balance including accrued interest and any prepayment penalties comes off the top of your proceeds before you see a dollar.
Common Seller Net Sheet Line Items: Greater Boston Reference
| Line Item | Fixed by Law or Negotiated? | Applies To | Who Typically Arranges It |
|---|---|---|---|
| Listing broker fee | Negotiated (listing agreement) | All sales | Seller and listing broker |
| Buyer’s agent compensation (if offered) | Negotiated (optional, separate) | Where seller chooses to offer | Seller and listing broker |
| Deed excise tax (M.G.L. c.64D) | Rate fixed by statute; who pays is negotiated | All sales | Closing attorney at recording |
| Closing attorney fee | Negotiated (varies by attorney) | All sales (required in MA) | Closing attorney |
| Registry recording fees | Administrative (set by registry) | All sales | Closing attorney |
| Smoke/CO certificate | Required by statute; cost negotiated | All residential transfers | Seller (customarily) |
| Lead paint notification/compliance | Required by statute (pre-1978 homes) | Homes built before 1978 | Seller and listing agent |
| Title 5 septic inspection | Required by regulation (if private septic) | Properties on private septic systems | Seller (customarily) |
| 6(d) certificate (condos) | Required by M.G.L. c.183A; admin fee varies | Condo sales | Condo association/management |
| Property tax proration | Calculated per closing date and local billing cycle | All sales | Closing attorney |
| Mortgage payoff | Per lender payoff statement | Sales with existing mortgage | Closing attorney, lender |
What Massachusetts Does (and Doesn’t) Require Sellers to Disclose
Massachusetts follows a buyer-beware (caveat emptor) rule. There is no statutory, universal seller property disclosure form required for typical residential resales. What IS mandated are the specific items covered above: lead paint notification for pre-1978 homes, Title 5 for properties on private septic, and the smoke/CO certificate from the fire department. Those are non-negotiable. If you know of a material defect and conceal it, you are exposed to legal liability regardless of the absence of a disclosure form. Disclose what you know.
Frequently Asked Questions
What exactly is a seller’s net sheet and how is it used in a Massachusetts closing?
A seller’s net sheet is a pre-closing estimate that starts with your sale price and subtracts every cost and credit associated with the transaction to show your projected take-home proceeds. In Massachusetts, the closing attorney prepares the official settlement statement at closing, but a good listing agent builds a preliminary net sheet with you before you accept any offer so you know what you are actually netting, not just what the sale price says.
In Boston or Brookline, which closing costs does the seller usually pay versus the buyer?
In Greater Boston, sellers customarily pay the deed excise tax, broker fees, their own attorney fees, and the smoke/CO certificate. But “customarily” is not the same as “required by law,” and your purchase and sale agreement controls the actual allocation. Buyers typically pay their lender fees, their own attorney, and title insurance. Many of these allocations are negotiated.
How does the Massachusetts deed excise tax work and who pays it when I sell my house?
Under M.G.L. c.64D, Massachusetts imposes an excise tax on every deed recorded for a property sale over $100, at a rate of $4.56 per $1,000 of consideration statewide. The tax is paid at recording through the county registry. In practice, Massachusetts purchase and sale agreements typically assign this cost to the seller, but it is negotiable, and your contract governs.
Do I have to provide a property disclosure form when selling my home in Massachusetts?
No, Massachusetts does not require a general seller property condition disclosure form for typical residential resales. However, specific mandatory disclosures do apply: lead paint notification for homes built before 1978 (required before the P&S is signed), Title 5 inspection reports if you have a private septic system, and the smoke/CO certificate from your local fire department.
What are the required inspections and certificates before closing in Boston, and who handles them?
Three certificates routinely appear on Greater Boston net sheets: the smoke and carbon monoxide detector compliance certificate (required from the local fire department, customarily arranged by the seller), the Title 5 septic inspection (required if the property has a private septic system), and the 6(d) certificate for condos (obtained from the condo association). Each has its own timeline and cost, and each can affect your net proceeds if repairs or upgrades are needed to pass.
How do property taxes and condo fees get prorated at closing in Quincy or Brookline?
Your closing attorney calculates each proration based on your actual closing date and the local municipality’s billing cycle. If you have prepaid taxes or condo fees beyond your ownership period, you receive a credit on the settlement statement. If amounts are in arrears, you are debited. The direction and size of these adjustments depend entirely on your closing date and local billing schedules; your attorney will have the exact figures.
Have questions? Let’s connect.
About Juan Murray
Juan Murray is a Boston broker associate with more than 30 years of experience helping buyers, sellers, and investors across Greater Boston, personally leading every transaction from the first conversation through closing.
RE/MAX Real Estate Center · (617) 721-0961
Equal Housing Opportunity. Juan Murray is licensed as a Broker in Massachusetts, regulated by the Massachusetts Board of Registration of Real Estate Brokers and Salespersons. This article is general information only and does not constitute legal, tax, or financial advice. Confirm your specific costs and obligations with your closing agent, tax advisor, or lender.
