Wondering what you will actually take home when you sell your Monomoy property? With prices on Nantucket often in the multi‑million range, even small line items can shift your bottom line by tens of thousands. You deserve a clear picture before you choose a list price, pick a launch date, or plan your next move. This guide shows you how to build a Monomoy‑specific seller net sheet, what to include, how timing on the island affects results, and what your proceeds could look like. Let’s dive in.
What a seller net sheet does
A seller net sheet is a simple estimate that starts with your expected sale price and subtracts the costs you are likely to pay at closing. The result is an estimated cash‑to‑seller number you can use to plan your exit. It helps you set realistic expectations, test pricing scenarios, and make smart choices about prep work and timing.
Think of it as a directional tool rather than a final settlement. Commissions, credits, title fees, and exact payoffs will be finalized at closing and can change based on negotiations and the calendar. Your agent will continually refine your net sheet as real numbers come in.
Why it matters in Monomoy
Monomoy is part of a high‑value island market where lot size, water access or views, and condition drive large swings in price. Because buyer demand on Nantucket is seasonal, your launch date can influence days on market and negotiating leverage. A well‑built net sheet lets you compare selling now versus targeting the spring or summer window.
If you own a second home or an investment property, your net sheet can also help you plan for mortgage payoff and relocation or reinvestment. For primary residences, it can flag potential tax considerations so you can speak with a CPA early.
Line items to include
Use these common cost categories when you build your estimate. Your actual numbers will be confirmed with current comps, vendor quotes, and your closing attorney.
- Real estate commission. Many sales fall in the 5% to 6% range of the sale price, which is often the largest seller expense.
- Massachusetts deed excise tax. The statutory rate is 2.28 dollars per 500 dollars of consideration, which equals 0.456%. This is typically collected at closing.
- Mortgage payoff and liens. Include your principal payoff and any other liens or judgments. Request a current payoff statement before you list.
- Prorations. Property taxes, utilities, and any condo or HOA fees are prorated to the closing date. If taxes are paid in arrears, you may owe a portion at closing.
- Title insurance and recording. Title premiums and recording fees vary by price and by local practice. In some Massachusetts transactions the seller pays for the owner’s title policy, while in others the buyer does. Confirm with your closing attorney.
- Attorney and closing agent. Massachusetts closings frequently involve attorneys on one or both sides. Fees commonly run from a few hundred to a couple thousand dollars.
- Inspections, repairs, and credits. Buyers often request repairs or a credit after inspections. These can range from minor to significant depending on condition.
- Pre‑sale prep and marketing. Staging, professional photography, landscaping, and light repairs can materially influence price and days on market, especially for high‑end homes.
- Buyer concessions. Some buyers request seller‑paid closing costs or other incentives that affect your net.
- Home warranty or transfer items. If provided, budget for these.
- Taxes on gain. Federal rules may allow a primary residence exclusion of up to 250,000 dollars for single filers or 500,000 dollars for married filing jointly if ownership and use tests are met. Investment and second‑home sales are generally taxable. Your net sheet should flag tax exposure, but you should review specifics with a CPA.
Build your Monomoy net sheet in 6 steps
Use this quick process to produce a first draft. Plan to revisit as more precise numbers arrive.
Set a realistic expected sale price. Use recent Monomoy comps from the Nantucket MLS and adjust for view, lot, size, and condition. Your agent will anchor this with active, pending, and closed data.
Choose a commission assumption. If you are early in planning, 5% to 6% is a reasonable range to model. Your actual agreement will set the final figure.
Calculate deed excise tax. Multiply the expected sale price by 0.456%.
Add known closing costs. Include estimated title premium and recording fees, attorney fees, staging and prep, and a repair or credit cushion based on your home’s condition.
Insert your mortgage payoff and prorations. Request a current payoff and estimate property tax proration to the likely closing date.
Review the subtotal and your net. Sale price minus total deductions equals your estimated cash to seller before taxes on gain.
Nantucket timing and seasonality
Island markets show strong seasonality. Listings that reach active buyers ahead of and during spring and summer typically see more showing activity and potentially stronger pricing. Listing in winter can still work, especially for unique properties, but you may see fewer showings.
If you are planning a 6 to 12 month exit, aim to complete repairs, staging, and photography in the lead‑up to the spring market. Build in buffer time for ferry logistics, contractor schedules, and title work. Your agent can help you sequence prep so you launch into peak demand with polished marketing.
Monomoy net sheet examples (illustrative)
These scenarios show how line items shift your bottom line. Replace with your exact numbers for a personalized net sheet.
Example A: Smaller single‑family, 1,000,000 dollars sale price
- Commission at 5.5%: 55,000 dollars
- MA deed excise at 0.456%: 4,560 dollars
- Owner’s title premium at approximately 0.45%: 4,500 dollars
- Attorney and closing fees: 1,200 dollars
- Staging and prep: 3,000 dollars
- Repairs or credits: 5,000 dollars
- Mortgage payoff: 400,000 dollars
- Property tax proration: 2,000 dollars
- Total estimated deductions: 475,260 dollars
- Estimated net to seller before taxes on gain: 524,740 dollars
Example B: Mid‑range Monomoy property, 3,000,000 dollars sale price
- Commission at 5.5%: 165,000 dollars
- MA deed excise at 0.456%: 13,680 dollars
- Owner’s title premium at approximately 0.45%: 13,500 dollars
- Attorney and closing fees: 1,500 dollars
- Staging and prep: 9,000 dollars
- Repairs or credits: 15,000 dollars
- Mortgage payoff: 1,200,000 dollars
- Property tax proration: 6,000 dollars
- Total estimated deductions: 1,423,680 dollars
- Estimated net to seller before taxes on gain: 1,576,320 dollars
Example C: High‑end Monomoy home, 6,000,000 dollars sale price
- Commission at 5.5%: 330,000 dollars
- MA deed excise at 0.456%: 27,360 dollars
- Owner’s title premium at approximately 0.45%: 27,000 dollars
- Attorney and closing fees: 2,000 dollars
- Staging and prep: 18,000 dollars
- Repairs or credits: 30,000 dollars
- Mortgage payoff: 2,500,000 dollars
- Property tax proration: 12,000 dollars
- Total estimated deductions: 2,946,360 dollars
- Estimated net to seller before taxes on gain: 3,053,640 dollars
Six to twelve month selling plan
Use this high‑level timeline to keep your exit on track.
Weeks 1 to 4: Strategy and prep. Align on list‑price range using current Monomoy comps, order a pre‑list inspection if appropriate, and approve a scoped repair list. Request mortgage payoff and a preliminary title check to catch liens or encumbrances early.
Weeks 5 to 12: Execute the plan. Complete priority repairs, landscaping, and deep clean. Approve professional photography and staging proposals. Build marketing that highlights view corridors, privacy, access, and turnkey livability.
Listing to contract: Timing varies. In stronger seasons, well‑priced homes can go under contract in days to a few weeks. In off‑season or for specialized properties, allow extra time.
Due diligence and contingencies: Expect 7 to 30 days depending on inspections and terms. A clean pre‑list file can shorten this phase.
Contract to close: Commonly 30 to 60 days in Massachusetts, sometimes faster for cash. Island logistics can introduce scheduling variables, so plan ahead with your closing team.
How your agent refines the net sheet
A strong listing agent turns a rough estimate into an actionable plan with real numbers and local nuance. Here is how that happens on Nantucket.
- Price with Monomoy‑specific comps. Your agent will analyze recent closed sales and the active set, then adjust for view, lot, square footage, condition, and unique features.
- Align launch with demand. Together you will choose a timeline that maximizes reach into the spring and summer buyer pool or sets expectations for an off‑season strategy.
- Clarify repairs and presentation. Pre‑list inspections can reduce renegotiation risk. Your agent will prioritize fixes with the best return and provide exact staging budgets.
- Lock in payoff and title details. Your team will request formal payoff statements and start title work early to avoid surprises.
- Model realistic credits and contingencies. Recent local negotiations provide a range for likely inspection credits or buyer concessions so your net sheet is not overly optimistic.
- Replace estimates with firm quotes. As numbers firm up, your net sheet becomes a clean line‑by‑line document that shows your true runway to closing.
Common pitfalls to avoid
- Ignoring the deed excise. At 0.456%, the state excise is not huge but it is material at higher prices. Always include it.
- Underestimating staging and prep. On high‑end listings, professional presentation often pays for itself in stronger pricing and faster absorption.
- Forgetting prorations. Property taxes and HOA fees are commonly prorated and can shift your bottom line.
- Waiting too long for payoff quotes. Payoff letters expire. Refresh them as your closing date firms up.
- Skipping the pre‑list inspection. Small fixes discovered early can prevent large credits later.
Bringing it all together
A clear, Monomoy‑specific net sheet gives you confidence. It turns high‑level price talk into a concrete plan, helps you choose the right launch window, and keeps every decision aligned with your bottom line. If you are six to twelve months out, start now with comps, payoff requests, and a pre‑list checklist so you hit spring and summer at full strength.
If you would like a custom net sheet for your Monomoy home, along with timing and prep recommendations tailored to your property, reach out to the local team that lives this market every day. Connect with Sanford & Sanford Real Estate to get started.
FAQs
What is a seller net sheet and why do I need one?
- A net sheet estimates your cash‑to‑seller by subtracting likely closing costs, payoffs, and prorations from your expected sale price so you can plan pricing, timing, and next steps.
How is Massachusetts deed excise tax calculated for a Nantucket sale?
- The state collects 2.28 dollars per 500 dollars of consideration, which equals 0.456% of the sale price, typically paid at closing.
Who usually pays for the owner’s title insurance policy in Massachusetts?
- Responsibility can vary by local practice and negotiation; confirm with your closing attorney for your specific transaction.
When is the best time to list a Monomoy home?
- Spring and summer see the most buyer activity on the island, so listings timed ahead of that window often gain more exposure and potentially stronger pricing.
How do property tax prorations work on Nantucket?
- Taxes are prorated to the closing date; if taxes are paid in arrears you may owe a portion at closing based on the billing cycle and timing.
Are capital gains taxes included in my net sheet estimate?
- Your net sheet should flag possible tax exposure, but actual capital gains depend on your situation; consult a CPA about primary residence exclusions and investment property rules.
