What is a Net Sheet
The purpose of a Seller Net Sheet is to determine what amount you will actually receive from the proceeds at the closing. This is effectively a balance sheet for the proceeds of the transaction which include the costs associated with selling your home. Jeff Melancon can assist you in preparing a net sheet as a part of your real estate transaction.
A seller’s expenses can include brokerage fees, real estate settlement fees, title insurance fees, special assessments, closing costs and pre-paids paid by Seller, and possibly some of the lender fees. Real estate taxes are pro-rated for Seller and buyer.
First and second mortgage balance, HELOC, home improvement loans and other liens against the property must be included in the net sheet. These items must also be paid in full at the closing to come up with your final figures.
In order to minimize any confusion Jeff Melancon will prepare a seller’s “net sheet” showing an approximation of what your expenses will be. This will help you in determining who pays for what and will help you to focus on the details of the transaction. With Jeff Melancon as your agent and his team of professionals, you are well assured they can assist you through this process.
ESTIMATED SALE PRICE
Costs Related to Sale of Home
Commission: 6% of sales price
Homeowners’ title insurance
Flood certificate, if applicable
Well and/or septic, if applicable.
Pro-ration of real estate taxes
Interest from first of month through closing
Overnight Payoff- Tax Research-Release
Document preparation fee
Escrow closing fee
Closing transaction fee
Resale certificate, if any
Homeowner association dues, if applicable
Home warranty (optional)
City real estate tax fee
Closing Costs Paid by Seller
Total Estimated Expenditures
Payoff first mortgage, estimated
Payoff second mortgage/HELOC
STIMATED NET PROCEEDS