Generally at listing and when an offer is presented, but it varies by client. I have some who don't care. They are going to sell at the right price no matter what, have plenty of equity and are familiar enough with the expenses of a sale to get close enough for them. It is especially important to provide one when the estimated selling price and mortgage balance are close.
I give my clients several Net Sheets at the time of listing. Each sheet outlines a particular offer scenario, best and worst cases. It's helps us establish our list price and the "flex" room we feel comfortable with when dealing with offers.
Painting the worst case scenario early on, can also help make that first offer look better to the seller.
Home Appreciators Team at
Better Homes & Gardens Real Estate Metro Brokers
Most listing processes I'm familiar with require that the seller receive a list of common expenses as part of the listing process. This is followed by a HUD that reveals all expenses associated with the transaction on both the seller and buyer's side. This occurs just prior to the transaction closing.
I agree with Sal, I think it is a good idea for the seller to know exactly or "pretty close" to where they will end up at closing. The worst case scenario in my mind would be to get to closing and have the sellers upset and angry because they thought they would net more.
I present the net sheet at the time of listing the property. It is important for the seller to know what they will walk away with at the closing. There are many costs affiliated with the sale such as tax stamps, mortgage discharge fees etc.... I have never met a seller that felt good about not knowing those things before they started budgeting for the purchase on the other end.
The Realtor has the responsibility to provide this information at every occasion: listing appointment, price discussions, receipt of an offer, repositioning talk. How could anyone ever know a good selling position if they don't have all the information necessary to make a decision.
The seller should never have to request a net sheet from their Realtor...it should automatically be provided to them. Initially at the listing appointment, any time an offer is presented to them, and again prior to closing. That way there are no surprises at closing.
On the listing appointment; when receiving an offer; and prior to closing.I would continue to give your seller a net sheet as there can be various scenarios for each offer. It is a helpful tool for the seller so that they always know what their bottom number will be in the end of the transacation.
You should get an estimate net sheet at listing. As soon as you know what your sales price is, your agent can figure out the rest of the figures. Multiple net sheets showing the outcome of multiple scenarios is ideal.
If your agent can give you a quick estimate, then they should be able to quickly figure out your net on any offer you get.
I have found that the Net Sheet is the most important document that I prepare - in the seller's mind. They always want, and need, to know what is the bottom line. We do several scenarios and I provide a net sheet for each of those so my client is fully informed to make a decision.
I believe a seller should receive a net sheet upon listing to give them an idea. Things will change based on prorated taxes and mortgage payoff, but it will give them an idea of what to expect at the time of the offer.