What Is a Seller Net Sheet and How Do I Read One?
A seller net sheet is a one-page estimate of what you actually keep from a sale: the contract price, minus every cost of closing, minus your mortgage payoff. It is not a legal document and it is not binding - the binding version is the settlement statement your closing agent prepares - but it is the number that should drive every decision you make, from list price to which offer you accept. In Palm Beach County a competent net sheet includes documentary stamp tax, the owner's title insurance policy, settlement and recording fees, prorated property taxes, association estoppel and transfer fees, the mortgage payoff with per-diem interest, and negotiated commission. If your agent has not shown you one before the listing goes live, ask for it.
The anatomy of a net sheet
Read it top to bottom as three blocks: what comes in, what goes out at closing, and what is left.
1. Gross sale price
The contract price. On a net sheet prepared before listing, this is the price your market analysis supports, and a good agent will run the sheet at two or three prices so you can see how the net moves.
2. Closing costs, the seller's side
These are the Palm Beach County customs. Every one of them is negotiable in the contract, and on a cross-county deal they will be negotiated.
- Documentary stamp tax on the deed. $0.70 per $100 of the sale price, or portion of $100, in every Florida county except Miami-Dade (s. 201.02, Florida Statutes). On a $700,000 sale, $4,900.
- Owner's title insurance policy. Florida promulgates the rate: $5.75 per $1,000 of liability up to $100,000, then $5.00 per $1,000 from $100,000 to $1 million, then $2.50 per $1,000 above $1 million (Fla. Admin. Code R. 69O-186.003). On a $700,000 sale, $575 plus $3,000 = $3,575. In Palm Beach County the seller customarily pays for the owner's policy. In Broward County the buyer does. Never assume; it belongs in the contract.
- Settlement, closing and document preparation fees charged by the title company or closing attorney.
- Municipal lien search and recording fees, plus the cost of resolving anything the search turns up, such as an open permit from a decade-old renovation.
- Prorated property taxes through the closing date. Florida taxes are paid in arrears, so you credit the buyer for your share of the current tax year.
- Association estoppel and transfer fees on condominium and HOA property. Florida law caps the estoppel certificate fee and the cap depends on turnaround time and whether the account is delinquent.
- Real estate commission, negotiated. Since the 2024 National Association of REALTORS settlement, the listing fee and any compensation offered to a buyer's broker are negotiated separately and buyer-broker compensation cannot be advertised in the MLS.
- Negotiated repair credits or seller concessions, which usually do not exist yet when the sheet is first prepared. This is why a net sheet is re-run when you have an offer in hand.
3. Payoffs
Your mortgage principal balance plus per-diem interest to the closing date, any second mortgage or home equity line, and any recorded liens - contractor, code enforcement, judgment, or unpaid association assessments. Payoff letters are ordered by the closing agent and are good only through a stated date; extending the closing changes the number.
4. Estimated net proceeds
What is left. This is the only figure that answers the question you actually have, which is usually "can I buy the next house?"
A worked example
A $700,000 single-family home in Boynton Beach, $260,000 mortgage payoff, no repair credits, no association:
| Line | Amount |
|---|---|
| Sale price | $700,000 |
| Documentary stamps on deed | -$4,900 |
| Owner's title policy (promulgated) | -$3,575 |
| Settlement, lien search, recording | -$1,200 |
| Prorated property taxes | -$3,400 (varies by closing date) |
| Commission (negotiated) | varies |
| Mortgage payoff plus per diem | -$260,000 |
| Estimated net before commission | about $426,900 |
Note what this example shows: the fixed transfer costs are about $9,675, or roughly 1.4% of price. Everything above that is negotiated or property-specific. The full cost picture is in what it costs to sell a house in Florida.
How to read a net sheet critically
Check the closing date it assumes. Prorated taxes, per-diem interest and association dues all move with the date. A sheet built on an unrealistic closing date understates your costs.
Check whether the payoff is a balance or a payoff. Your online principal balance is not your payoff. The payoff includes interest to the closing date and often a recording or release fee.
Look for the association block. On a condominium or HOA home, estoppel, transfer fees, application fees and any special assessment allocation belong on the sheet. A special assessment already levied but not yet paid is a negotiation item, and it should appear before you sign a listing agreement, not two days before closing.
Ask what is missing. A net sheet that shows no repair credits, no concessions and no title curative work is a best case. On an older home, ask your agent to run a second version with a realistic repair credit so you know the floor. If you would rather not negotiate repairs at all, read selling a house as-is in Florida - as-is changes the negotiation, not your disclosure obligations, which are covered in what you must disclose when selling.
Compare offers on net, not on price. A $710,000 offer with $15,000 in seller concessions and a 60-day financing contingency is not better than a $695,000 cash offer closing in three weeks. The net sheet is how you see that in one glance.
When the net sheet changes the plan
Three situations where the sheet, not the price, drives the decision:
Selling to buy again. Run two sheets: the sale and the purchase. Your down payment on the next house is the net from this one, and homestead portability may let you carry some of your Save Our Homes assessment savings to the new property if you establish homestead within the statutory window. That is a tax question for the Property Appraiser and your CPA, but it belongs on the same page as the net.
Selling an inherited property. The estate's costs are different, timing depends on the probate posture, and the number heirs care about is the net split. Start with do I need probate to sell my parents' house.
Owing more than the property is worth. If the payoff exceeds the likely net, the net sheet is the document that tells you early, while you still have options. See foreclosure alternatives in Palm Beach County.
Get the number before you list
Gia Freer is broker/owner of PBP Real Estate, LLC and has been licensed in Florida since 2000; the firm has served Palm Beach County since 2006. Every seller we work with leaves the listing appointment with a written net sheet at more than one price. We would rather have the hard conversation on day one than at the closing table.
Call 561-395-8418 or see what your home is worth. More on our process: selling with PBP.
This article covers the real estate side of selling in Florida and is not legal or tax advice. Ask a Florida real estate attorney about title and contract questions and a CPA about the tax treatment of your sale.
Seller Net Sheets: Questions and Answers
What is a seller net sheet?
A one-page estimate of your proceeds from a sale: the contract price less closing costs, less commission, less your mortgage payoff and any liens. It is an estimate prepared by your agent or title company, not a binding document; the binding version is the closing statement.
Is a net sheet the same as a closing statement?
No. A net sheet is an estimate produced before or during the transaction to help you make decisions. The closing statement, prepared by the closing agent, is the final accounting of every dollar at closing and is the document you sign.
What costs appear on a Florida seller net sheet?
Documentary stamp tax on the deed at $0.70 per $100 of price, the owner's title insurance policy at Florida's promulgated rate, settlement and recording fees, a municipal lien search, prorated property taxes, association estoppel and transfer fees where applicable, negotiated commission, and the mortgage payoff with per-diem interest.
Who pays for owner's title insurance in Palm Beach County?
By local custom the seller pays for the owner's policy in Palm Beach County. In Broward County the buyer customarily pays. It is negotiable in both and should be addressed in the contract rather than assumed.
When should I ask for a net sheet?
Before you sign a listing agreement, and again for every offer you consider. Comparing offers on net proceeds rather than headline price is the single most useful thing a net sheet does.
Why did my net proceeds change after the offer?
Usually one of four things: a later closing date changing prorations and per-diem interest, repair credits negotiated after inspection, a lien or open permit found in the municipal search, or an association item such as a special assessment allocated at closing.