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Estimated Net Sheet All Locations : Nationwide Real Estate Advice

  • All723K
  • Local Info60K
  • Home Buying264K
  • Home Selling45K
  • Market Conditions26K

Activity 92
Showing results for Estimated Net Sheet [Clear search]
Thu Jan 26, 2012
Glenn Groves answered:
There are lot of costs but few are considered hidden... I would suggest giving a mortgage broker a call to discuss what options are out there and what to look for. (Hint, give Elise a call)

Glenn & Elise Groves, Mortgage Retrievers!
707-546-0440
Glenn@GrovesTeam.net
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0 votes 14 answers Share Flag
Fri Jan 20, 2012
Susi Yarbrough-Salhaney answered:
Hello,
I would certainly have one inspector come out to perform a general inspection. He/she would be able to let you know if it's necessary to do other inspections, ie: roof/HVAC, etc.

How long has it been since you've painted the inside/outside?
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0 votes 18 answers Share Flag
Sun Nov 27, 2011
Michael Ramirez answered:
Yes, I would be happy to assist you. I specialize in Orange County. Please call me at 949-303-9406 or you can email me at mikeramirez949@gmail.com so that we can talk and see what best fits your needs. I look forward to speaking with you. ... more
0 votes 13 answers Share Flag
Mon Apr 25, 2016
Walter 'Skip' Kersten answered:
On average the total commission is between 5% and 6% split between both agents. This total amount is negotiated with seller and listing agent.
Good luck,
0 votes 19 answers Share Flag
Sun Aug 28, 2011
Shanna Rogers answered:
Hi Msmith13,

That would depend on it's current value and what you owe on it (if anything). Contact a local Realtor and ask them to do a Comparative Market Analysis (CMA) on your property using Sold comps within a 1 mile radius of your property that have Sold within the past 3 months. This will give you current market value. The Realtor should also be able to give you an Estimated Net Seller's Proceeds Sheet so you can see what you will receive at close of escrow. Most (if not all) Realtors will provide this service to you at no charge and with no obligation. (They are hoping, or course, that if you decide to sell your property you will hire them as your Realtor).

Good luck.

Shanna Rogers
SR Realty
www.RealtyBySR.com
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0 votes 3 answers Share Flag
Thu Aug 18, 2011
Sally Grenier answered:
Your title company should be able to give you an estimated "net proceeds" sheet that itemizes your closing costs, and prorated taxes. You can also ask your Realtor (who should have a title company lined up to handle the transaction). ... more
0 votes 5 answers Share Flag
Sat Jun 11, 2011
Pacita Dimacali answered:
Assumptions: $300,000 purchase price, 5% down, 5% interest convention 30-year loan, 1% loan origination fee/

Here's what it COULD look like. Only your lender and the escrow officer can give you the exact figures based on your purchase and when you close escrow

Estimated Annual Income Needed to Qualify $ 68,677.00
Buyers Conv at 5% interest
Price $ 300,000.00
Fixed Costs $ 5,276.00
Down Payment $ 15,000.00

Prepaid Costs $ 3,060.00
Loan $ 285,000.00
Total Costs $ 8,336.00
Bring to Closing $ 23,336.00

Payment Info
P.I. Payment $ 1,529.94
Monthly Insurance $ 87.50
Monthly Tax $ 312.50
APR $ 5.165
PMI $ 187.62

PITI $ 2,117.56

Details on closing cost:
Pre-Paid Items:
14 Months of Insurance $ 1,225.00
4 Months of Taxes $ 1,250.00
15 Days of Interest $ 585.00
Total Prepaid costs $ 3,060.00


Fixed Closing Cost:
Recording Fee $ 100.00
Processing Fee $ 350.00
Tax Service $ 85.00
Doc Prep $ 350.00
Underwriting $ 200.00
Flood Cert. $ 40.00
Appraisal $ 450.00
Credit Report $ 60.00
Endorsement $ 125.00
Courier Fee $ 36.00
Loan Tie-in Fee $ 150.00
Lender's Title Policy $ 480.00
Loan Origination Fee $ 2,850.00 (deduct if not applicable)

Total Fixed costs $ 5,276.00

Not included: costs of HOA document preparation, transfer fees (negotiable between buyer and seller)

Good luck~
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0 votes 4 answers Share Flag
Mon Feb 9, 2015
Sally Grenier answered:
There are many different factors involved. What is the price of the home? Whose closing costs are you referring to (seller or buyer or both)? A buyer can expect to pay between 2-3% of the purchase price in closing costs. (costs are higher if the buyer is getting mortgage).

As a seller, you will have Realtor's fees (if you use one) which is negotiable and can range anywhere from 4%-6%, title insurance, recording fees, and possibly other fees depending on your area. For example some states require attorneys, while states like CO don't.
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0 votes 14 answers Share Flag
Fri May 18, 2012
Pacita Dimacali answered:
There is not one answer to your question....there are no percentages, rules, etc regarding how much more a buyer should offer in a situation like this.

What does your realtor say?
What did you offer in the first place?
And how does that compare with current market values of similar properties in the neighborhood?

Remember, even if you write an offer for above list price, if you're getting a loan, that property will have to appraise for what you offered in order for the loan to be approved.

Good luck!
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0 votes 124 answers Share Flag
Tue Nov 19, 2013
Dan Tabit answered:
Thom,
Did you sign a buyer’s agency agreement promising to pay 3%? If you did and the commission was less, you may be obligated. Whatever documents you signed will determine what your obligations may be. If you did, your agent should have informed you that buying this particular home would trigger this, but if the agent didn't it doesn't invalidate the signed agreement. ... more
0 votes 105 answers Share Flag
Tue Mar 8, 2011
Mati Rosa Morphis answered:
Folsom has many various areas and some great deals. Two of my Investors have purchased in Folsom - their strategy was to purchase 3+/2+ at least 1800 square feet and 10 years or newer. They did put enough money down to make it cash flow with the loans options available to them. Understanding 'your' Loan Options are a critical step for all purchases. For example - there is Self-Directed IRA with loan option most people don't know anything about, but the wealthy have been using since 1974.
My clients are very familiar with Folsom and know it has maintained it's value fairly well compared to other communities. Roseville and El Dorado Hills are two other areas my Investors like - but they buy a little higher than normal Investor and also intend to get a higher return on their investments in the future. That being said every Investor has a different strategy and set of numbers that has to make sense for 'them'.
For all your specific questions you listed, your best source of data will come from a great Property Management Company. For additional fees - I would add property management fees about 8% of the monthly rent . Get their professional opinion on the rental market and expectations. Renters have many rights, I HIGHLY recommend using a great property management company! For the purchase - It's easy to get an estimated Net Sheet to see what your costs will be from a title company.
With all good plans you want to include an "Exit Strategy" - understand all your risks and how to mitigate them. Best thing is to get educated by professionals who can meet 'YOUR' requirements.
It's a great time to buy! Yes the market may still go down or it could start going back up - no doubt change will happen, but don't let it paralyze you! Hope that helps - feel free to contact me to discuss further.
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0 votes 10 answers Share Flag
Mon Feb 14, 2011
Sergio Hernandez answered:
Pay the difference when you sell your older home before buying the newer one.
0 votes 8 answers Share Flag
Mon Mar 7, 2011
Heidi Lachel answered:
Home Seller,

The best way to tell is to have an appraisal done on the property. The appraiser will determine the fair market value based on recent closed comparables. You can also have a Realtor do a CMA on the property and provide you a Net Equity sheet with an estimate of closing costs minus the amount you owe to determine if you will walk away owing or with a profit. Based on your $ per sq footage you said, you may be in a good position to sell. If you have any other questions, feel free to call me. ... more
0 votes 13 answers Share Flag
Wed Feb 2, 2011
Anna M Brocco answered:
Closing costs do vary, therefore ask your agent and or your attorney the question...
0 votes 7 answers Share Flag
Wed Jul 6, 2011
Lance King answered:
N,

Different areas have different customary practices for fees and splits. You can wait for someone who works in your area to chime in or call a local title company and they could give you an estimate.

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
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0 votes 20 answers Share Flag
Wed Feb 9, 2011
Richard Malsed answered:
If your agent is YOUR agent, and not the listing agent on the property, I would trust that agent. The local agent knows the area, and should know the values of the properties in their local area. If the home has been on the market for at least 30 days and it hasn't received any offers, it's over priced, and would try at least 10% off of the asking price...maybe more.

Best of luck on your new investment.
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0 votes 27 answers Share Flag
Tue Nov 14, 2017
Sally Grenier answered:
Sounds like youre trying to sell your home by yourself? Who is going to handle the title work? Do you have a title company and/or an attorney lined up? You will likely have title fees. Your title company should be able to give you a quote. Then you'll also have to pay your taxes (Jan 1 to date of closing). You may have to also pay for other pro-rated items (sewer, water, HOA fees, etc.) for the month in which you're closing. Your buyers may also ask you to pay for all or part of their closing costs (pretty common these days). Their closing costs are a lot more than yours (not counting the commission)

As always, I highly recommend using a Realtor. You have a large amount of money on the line, and you want it to go smoothly. Problems come up (more often than not) and you need someone representing you and looking out for your best interests. Good luck!
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0 votes 13 answers Share Flag
Mon May 9, 2011
Anna M Brocco answered:
Commissions are always negotiable between you and your agent--there are no set standards as it would go against Federal Laws--in particular the Sherman Antitrust Act and Clayton Antitrust Act--therefore consider interviewing in person a few agents, or as many as needed from different realty offices, then choose the one you like best and the one who has the most to offer--choose your agent with care. Keep in mind that if two agents are involved in the transaction, the commission is shared. ... more
0 votes 9 answers Share Flag
Fri Dec 3, 2010
Tammy J Smith answered:
You are the one in control essentially you can counter offer. Your Realtor regardless of where they are located should look out for your best interest. There is no standard practice. Each and every transaction is customized to each client and each situation.
You have the right to refuse any of the request. I would give on some of them or you can have your Realtor put in contingencies or stipulations on how much you are willing to pay toward anything. If you are against paying for the home inspection or repeated inspections say so. We are only Realtors after all we do as we are told and if you don't voice your concerns to them then we are none the wiser. So tell your Realtor what's on your mind. God Bless and happy selling.
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0 votes 8 answers Share Flag
Mon Nov 29, 2010
Anna M Brocco answered:
For an accurate picture, consider asking your loan officer for a good faith estimate--then plan accordingly.
0 votes 15 answers Share Flag
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