seller’s costdonaldfreerealestateschool.com/.../2015/03/ppt16-sellers-cost.pdf · round final...

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Seller’s Cost

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Estimated Net to Seller Form When To Use The Form

At the time of listing. At the time of receiving a offer/counteroffer. Prior to closing.

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Estimated Net to Seller Form General Guidelines

The seller is charged with all costs of ownership through the date of closing.

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The seller is credited with income (rent) through closing.

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The buyer is charged with cost of the day of closing for prepaid items, interest adjustment, mortgage insurance and impounds.

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When doing calculations, February will always have 28 days.

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General Guidelines Carry out calculations to 4 decimal place. Round final answer to 2 decimal places.

Estimated Net to Seller Form

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Estimated Net to Seller Form Prorations

The one who has paid the bill (Prepaid items), or the one who will pay the bill (accruing or arrears items), gets the credit.

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Accruing

Taxes are UNPAID Debit Seller Credit Buyer From Jan. 1 thru closing

Prepaid

Taxes are PAID Debit Buyer Credit Seller From day after closing

thru Dec. 31

Prorating the Property Tax Jan 1st Dec 31st Taxes paid July 1st

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Prorating the Property Tax

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Prorating Hazard Insurance

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Prorating Hazard Insurance

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Prorating Accrued Interest

Interest ($$$) for a year

Rate % rate

Principle balance

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When calculating interest use a 360 day year unless instructed otherwise.

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Prorating Rent

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Prorating Rent

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Prorating Rent

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Prorating Rent

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ESTIMATE OF NET TO SELLER Seller _______________________________ Date Prepared _________________________ Address _____________________________ Projected Closing Date __________________ County ______________________________ Month Tax Bill Paid _____________________

1.  Sales Price $ _________________________________________________________

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ESTIMATE OF NET TO SELLER Seller _____ Natalie Kandul ___________ Date Prepared _____ March 30, 20xx _____ Address ___ 312 Green Street _______ Projected Closing Date __ May 12, 20xx __ County ____ Karlie County ___________ Month Tax Bill Paid ___ July _____________

1.  Sales Price $____________________________________________________

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ESTIMATE OF NET TO SELLER Seller _____ Natalie Kandul ___________ Date Prepared _____ March 30, 20xx _____ Address ____ 312 Green Street _______ Projected Closing Date __ May 12, 20xx __ County ____ Karlie County ___________ Month Tax Bill Paid ___ July _____________

1.  Sales Price $ ___ 195,000.00 ____________________________________

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ESTIMATE OF NET TO SELLER Present Loan Pay-off Expenses

2.  1st mortgage principal balance after last payment $ __ 96,452.00 _____ 3.  Failure to notify bank penalty + $ _________________ 4.  Prepayment penalty + $ _________________ 5.  Accrued Interest (Principal Balance $ ___________

x Rate ______% ÷ 360 (365 VA/FHA) x # of days to closing ______ )(1st Mortgage) + $ _________________

6.  2nd mortgage/home equity loan principal balance after last payment + $ _________________

7.  Accrued Interest (Principal Balance $ ___________ x Rate____% ÷ 360 (365 VA/FHA) x # of days to closing ____) (2nd Mortgage) + $ _________________

8.  Subtotal Present Loan Pay-Off Expenses (Add 2-7) + $ _________________

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2.  1st mortgage principal balance after last payment $ __ 96,452.00 _____ 3.  Failure to notify bank penalty + $ __ N/A ___________ 4.  Prepayment penalty + $ __ N/A ___________ 5.  Accrued Interest (Principal Balance $ ___________

x Rate ______% ÷ 360 (365 VA/FHA) x # of days to closing ______ )(1st Mortgage) + $ _________________


7.  Accrued Interest (Principal Balance $ ___________ x Rate____% ÷ 360 (365 VA/FHA) x # of days to closing ____) (2nd Mortgage) + $ _________________


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2.  1st mortgage principal balance after last payment $ __ 96,452.00 _____ 3.  Failure to notify bank penalty + $ __ N/A ___________ 4.  Prepayment penalty + $ __ N/A ___________ 5.  Accrued Interest (Principal Balance $ __ 96,452.00

x Rate _ 8.5 _% ÷ 360 (365 VA/FHA) x # of days to closing _ 12 _ )(1st Mortgage) + $ _____ 273.28 _____


7.  Accrued Interest (Principal Balance $___________ x Rate____% ÷ 360 (365 VA/FHA) x # of days to closing ____) (2nd Mortgage) + $ _________________


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6.  2nd mortgage/home equity loan principal balance after last payment + $ __ N/A ___________

7.  Accrued Interest (Principal Balance $___________ x Rate____% ÷ 360 (365 VA/FHA) x # of days to closing ____) (2nd Mortgage) + $ __ N/A ___________


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8.  Subtotal Present Loan Pay-Off Expenses (Add 2-7) + $ __ 96,725.28 _____

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ESTIMATE OF NET TO SELLER Costs of Sale: (by ¶ of the contract or form number)

9.  Seller’s Contributions at Closing (¶ 5) $ ___ 3,000.00 _____ 10.  Unpaid Property Taxes (Annual taxes $ __________

÷ 365 x # of days from January 1 to ______ closing) (¶ 5) + $ _________________

11.  Special Assessments (i.e. Association Fees) (¶ 5) + $ _________________ 12.  Survey (¶ 6) + $ _________________ 13.  Home Inspection Repairs/Clean-Up (Form F129) + $ _________________ 14.  Real Estate Brokerage Fee (¶ 11) + $ _________________ 15.  Document Preparation Fees (FHA/VA) (Form F63/F65) + $

_________________ 16.  Other ___________________________________ + $ _________________ 17.  Subtotal Costs of Sale (Add 9-16) + $ _________________

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9.  Seller’s Contributions at Closing (¶ 5) $ ___ 3,000.00 _____ 10.  Unpaid Property Taxes (Annual taxes $ ___ 2,846.00

÷ 365 x # of days from January 1 to _ 132 _ closing) (¶ 5) + $ ___ 1,029.24 _____

11.  Special Assessments (i.e. Association Fees) (¶ 5) + $ _________________ 12.  Survey (¶ 6) + $ _________________ 13.  Home Inspection Repairs/Clean-Up (Form F129) + $ _________________ 14.  Real Estate Brokerage Fee (¶ 11) + $ _________________ 15.  Document Preparation Fees (FHA/VA) (Form F63/F65) + $


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11.  Special Assessments (i.e. Association Fees) (¶ 5) + $ __ N/A ___________ 12.  Survey (¶ 6) + $ _____ 200.00 _____ 13.  Home Inspection Repairs/Clean-Up (Form F129) + $ _________________ 14.  Real Estate Brokerage Fee (¶ 11) + $ _________________ 15.  Document Preparation Fees (FHA/VA) (Form F63/F65) + $


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11.  Special Assessments (i.e. Association Fees) (¶ 5) + $ __ N/A ___________ 12.  Survey (¶ 6) + $ _____ 200.00 _____ 13.  Home Inspection Repairs/Clean-Up (Form F129) + $ __ N/A ___________ 14.  Real Estate Brokerage Fee (¶ 11) + $ __ 11,700.00 _____ 15.  Document Preparation Fees (FHA/VA) (Form F63/F65) + $


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11.  Special Assessments (i.e. Association Fees) (¶ 5) + $ __ N/A ___________ 12.  Survey (¶ 6) + $ _____ 200.00 _____ 13.  Home Inspection Repairs/Clean-Up (Form F129) + $ __ N/A ___________ 14.  Real Estate Brokerage Fee (¶ 11) + $ __ 11,700.00 _____ 15.  Document Preparation Fees (FHA/VA) (Form F63/F65) + $ __ N/A

___________ 16.  Other ____ Home Warranty ________________ + $ _____ 350.00 _____ 17.  Subtotal Costs of Sale (Add 9-16) + $ _________________

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÷ 365 x # of days from January 1 to ___ 132 _ closing) (¶ 5) + $ ___ 1,029.24 _____

11.  Special Assessments (i.e. Association Fees) (¶ 5) + $ __ N/A ___________ 12.  Survey (¶ 6) + $ _____ 200.00 _____ 13.  Home Inspection Repairs/Clean-Up (Form F129) + $ __ N/A ___________ 14.  Real Estate Brokerage Fee (¶ 11) + $ __ 11,700.00 _____ 15.  Document Preparation Fees (FHA/VA) (Form F63/F65) + $ __ N/A

___________ 16.  Other ____ Home Warranty ________________ + $ _____ 350.00 _____ 17.  Subtotal Costs of Sale (Add 9-16) + $ __ 16,279.24 _____

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ESTIMATE OF NET TO SELLER Credits

18.  Prepaid Property Taxes (Annual taxes $ _________ ÷ 365 x # of days closing to December 31, _____) (¶ 5) + $ __ N/A ___________

19.  Escrow Refund of Taxes & Insurance (Usually received 30 days after closing) + $ __ N/A ___________

20.  Other ______________________________ + $ _________________ 21.  Subtotal Credits (Add 18-20) + $ _________________ 22.  ESTIMATE OF NET TO SELLER

(LINE 1 – 8 – 17 + 21) $ _________________

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20.  Other ____ Insurance ________________ + $ _____ 315.53 _____ 21.  Subtotal Credits (Add 18-20) + $ _____ 315.53 _____ 22.  ESTIMATE OF NET TO SELLER

(LINE 1 – 8 – 17 + 21) $ _________________

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20.  Other ____ Insurance ________________ + $ _____ 315.53 _____ 21.  Subtotal Credits (Add 18-20) + $ _____ 315.53 _____ 22.  ESTIMATE OF NET TO SELLER

(LINE 1 – 8 – 17 + 21) $ __ 82,311.01 _____

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Student Narrative ESTIMATE OF NET TO SELLER

Click to Open and Complete the Interactive PDF

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ESTIMATE OF NET TO SELLER Seller ___ Peter and Patsy Palmer ______ Date Prepared _____ April 12, 20xx _______ Address _____ 1445 Grove Road _______ Projected Closing Date _ June 15, 20xx __ County ____ Peachtree _____________ Month Tax Bill Paid ___ July _____________

1.  Sales Price $ ___ 170,000.00 _____________________________________

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Narrative ESTIMATE OF NET TO SELLER Present Loan Pay-off Expenses


x Rate __ 7 __% ÷ 360 (365 VA/FHA) x # of days to closing _ 15 _ )(1st Mortgage) + $ _____ 281.34 _____



8.  Subtotal Present Loan Pay-Off Expenses (Add 2-7) + $ __ 96,739.34 _____

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÷ 365 x # of days from January 1 to _ 166 _ closing) (¶ 5) + $ _____ 551.21 _____

11.  Special Assessments (i.e. Association Fees) (¶ 5) + $ __ N/A ___________ 12.  Survey (¶ 6) + $ __ N/A ___________ 13.  Home Inspection Repairs/Clean-Up (Form F129) + $ __ N/A ___________ 14.  Real Estate Brokerage Fee (¶ 11) + $ __ 10,200.00 _____ 15.  Document Preparation Fees (FHA/VA) (Form F63/F65)+ $ __ N/A __________ 16.  Other ____ FHA Repairs ___________________ + $ _____ 500.00 _____ 17.  Subtotal Costs of Sale (Add 9-16) + $ __ 15,251.21 _____

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18.  Prepaid Property Taxes (Annual taxes $ _________ ÷ 365 x # of days closing to December 31, _____) (¶ 5) + $ __ N/A __________

19.  Escrow Refund of Taxes & Insurance (Usually received 30 days after closing) + $ ___ 1,188.00 _____

20.  Other ____ Insurance (114 Days) ___________ + $ _____ 296.71 ____ 21.  Subtotal Credits (Add 18-20) + $ ___ 1,484.71 _____ 22.  ESTIMATE OF NET TO SELLER

(LINE 1 – 8 – 17 + 21) $ __ 59,494.16 _____

seller’s costdonaldfreerealestateschool.com/.../2015/03/ppt16-sellers-cost.pdf · round final...

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