Seller Net Sheets: Boston, Brookline & Quincy

What does a seller net sheet show for a Greater Boston home sale?

A seller net sheet is a line-by-line estimate that starts with your agreed sale price and works down to the cash you’ll 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, and 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

Here’s the straight talk I give every seller who sits down with me before we list: the gap between your sale price and your net proceeds is real, and it’s made up of specific, nameable items. None of them are mysteries. Let me walk you through each one.

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. It appears as a single line item on the closing statement and is paid directly from your proceeds.

One thing that changed after the 2024 NAR settlement: 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. If you want to understand exactly how these two fees interact on your specific net sheet, that conversation happens with me directly, not on a blog.

Massachusetts deed excise tax

This one 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 Massachusetts Department of Revenue confirms the statewide rate at $2.28 per $500 of consideration (equivalently, $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. The tax rate itself is fixed by statute; the question of who pays it is not. Confirm the allocation in your own purchase and sale agreement.

Attorney fees and recording charges

Massachusetts is an attorney-closing state. Unlike many parts of the country, the Massachusetts Bar Association and the Real Estate Bar Association for Massachusetts (REBA) confirm that 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. These are real costs that reduce your proceeds, and their amounts vary by attorney and transaction complexity.

Required certificates and inspections

This is the category that catches sellers off guard, especially in older Boston-area housing stock. Massachusetts law and local fire department rules require specific certificates before a residential transfer can close.

Smoke and CO detector compliance certificate: Under M.G.L. c. 148, §§ 26F and 26F½sellers must obtain a smoke and carbon monoxide detector compliance certificate from the local fire department before closing. In Boston, Brookline, and Quincy, each fire department runs its own inspection scheduling process. The Boston Fire Department, Brookline Fire Department, and Quincy Fire Department each publish current requirements, and those requirements do change as detector technology and code standards evolve. Check the current guidance at the time you list. Customarily, the seller arranges and pays for this inspection, but the allocation is negotiable in your purchase and sale agreement. 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, less common in dense Boston neighborhoods but possible in parts of Quincy and Brookline’s outer areas, Massachusetts Title 5 regulations require an inspection within two years before transfer (or six months after, under certain weather conditions). The seller typically ensures this is completed and provides the report. 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. For those properties, Massachusetts law requires the seller to provide the Property Transfer Lead Paint Notification before the purchase and sale agreement is signed. You must also provide copies of any lead inspection reports, risk assessment reports, and Letters of Compliance or Interim Control, disclose known lead hazards, and sign a certification page with the buyer. The Massachusetts Lead Law assumes any home built before 1978 contains lead paint unless proven otherwise. A 2025 MassLegalHelp guide confirms these obligations remain fully in effect. If deleading work is needed, particularly when children under six will occupy the property, those costs flow through to your net.

6(d) certificate for condos: If you’re selling a condo in Boston, Brookline, or Quincy, the closing attorney will require a 6(d) certificate under M.G.L. c. 183A, § 6(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, either as items you pay before closing or as negotiated credits. The administrative fee for obtaining the certificate is also a net-sheet line item.

Prorations

Prorations are the adjustments on your closing statement that account for costs already paid (or not yet paid) that straddle your closing date. In Greater Boston, the categories that routinely appear include:

• Real estate taxes: Boston, Brookline, and Quincy each have their own billing cycles. Your closing attorney calculates the seller’s share of the current tax period up to the closing date. If you’ve prepaid taxes beyond your ownership period, you receive a credit. If taxes are in arrears, you’re debited.
• Condo fees and common charges: Prorated to the closing date based on the association’s billing cycle, reconciled against the 6(d) certificate.
• Fuel and other items: If you have an oil or propane tank, the stored fuel is typically measured and credited to you at closing. In multi-family or investment properties, prepaid rents and security deposits are also accounted for. (If you’re selling a two-family or three-family, there are additional layers; I cover those in detail in my post on selling multi-family homes in Boston.)

Existing mortgage payoff

If you carry a mortgage, the payoff balance, including any accrued interest and prepayment penalties, comes off the top of your proceeds before you see a dollar. Your closing attorney requests a payoff statement from your lender and applies it on the settlement statement. This is often the single largest deduction for sellers who bought in the last several years at high loan-to-value ratios.

What Massachusetts Does (and Doesn’t) Require Sellers to Disclose

One question I get from sellers in Boston and Brookline constantly: “Do I have to fill out a property disclosure form?” The short answer is no, not a general one.

Massachusetts follows a buyer-beware (caveat emptor) rule. The Massachusetts Office of Consumer Affairs and Business Regulation confirms there is no statutory, universal seller property disclosure form required for typical residential resales. Many brokerages use their own voluntary forms, and I do recommend transparency as a matter of practice, but it is not mandated by law for general condition disclosures.

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. Everything else is caveat emptor, which means buyers are expected to conduct their own inspections. That said, if you know of a material defect and conceal it, you are exposed to legal liability regardless of the absence of a disclosure form. Straight talk: disclose what you know.

For more on how the purchase and sale agreement structures these obligations, see my post on the Massachusetts Purchase and Sale Agreement for Boston sellers.

How to Use This Information Before You List

The net sheet isn’t a document you see for the first time at the closing table. It’s a planning tool, and the time to build it is before you set your list price.

Here’s what I do with every seller I work with: before we agree on a price, we sit down and build a preliminary net sheet together. We account for every category above, the deed excise tax (which we can calculate because the rate is statutory), the certificates required for your specific property, the proration estimate based on your local tax cycle, and the negotiated broker fees. The result is a realistic picture of what you’ll walk away with at different price points.

That number, not the list price, not the Zestimate, is what actually matters. I’ve seen sellers fixate on a high list price while leaving money on the table because they didn’t account for a Title 5 repair or a condo special assessment. I’ve also seen sellers accept an offer that looked lower on paper but netted more after accounting for fewer concessions and a cleaner close.

Your specific number depends on your home’s condition, location, mortgage balance, and the terms you negotiate. That’s exactly the kind of analysis I walk my clients through before we go to market.

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, broker fees, deed excise tax, attorney fees, required certificates, prorations, and your mortgage payoff, to show your projected take-home proceeds. In Massachusetts, the closing attorney prepares the official settlement statement at closing. Still, a good listing agent builds a preliminary net sheet with you before you accept any offer so you know what you’re 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, and I’ve seen deals structured every way imaginable. Confirm your specific obligations in your contract, not from a blog.

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. The Massachusetts Department of Revenue sets the rate at $2.28 per $500 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. The rate itself is not negotiable; who pays it is.

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; the state follows a buyer-beware (caveat emptor) rule. However, specific mandatory disclosures do apply: lead paint notification for homes built before 1978 (required under Massachusetts law 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. Concealing a known material defect exposes you to legal liability regardless of the absence of a general form; disclose what you know.

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 under M.G.L. c. 148, §§ 26F and 26F½ customarily arranged by the seller), the Title 5 septic inspection (required under Massachusetts DEP regulations if the property has a private septic system), and the 6(d) certificate for condos (required under M.G.L. c. 183A, § 6(d), 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’ve prepaid taxes or condo fees beyond your ownership period, you receive a credit on the settlement statement. If amounts are in arrears, you’re debited. For condos, the proration is reconciled against the 6(d) certificate, which certifies what’s been paid through a specific date. The direction and size of these adjustments depend entirely on your closing date and local billing schedules; your attorney will have the exact figures.

Know Your Number Before You List

The list price is what you ask. The net sheet is what you keep. In Greater Boston’s market, those two numbers can be far apart, and the gap is made up of real, specific, plannable line items. The sellers I work with never see their net sheet for the first time at the closing table, because I build it with them before we price the home.

If you’re thinking about selling in Boston, Brookline, Quincy, or anywhere across Greater Boston, let’s build your preliminary net sheet together. No pitch, no pressure, just the real numbers so you can make a real decision.

Have questions? Let’s connect.

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 numbers and obligations with your attorney, tax advisor, lender, or closing officer.