1,057,254
That's not the kind of form I use for CRE. I do a discounted cash flow analysis, if applicable, or another type of financial analysis that enables us to come up with a decent range and net.
For residential, I can pretty much net out a seller in my head.
But, because we don't want that kind of liability I grab an estimated HUD from title. Or at least a breakdown of seller costs.
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Roy Kelley
Gaithersburg, MD
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Nina Hollander, Broker
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Michael Jacobs
Pasadena, CA
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Lyn Sims
Schaumburg, IL
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Susie Kay
Plano, TX
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Candice A. Donofrio
Fort Mohave, AZ
509,449
Title companies usually provide a system that we can use, and I always tell them this is just an estimate. The form is not for commercial use such as office buildings, warehouse, etc.
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Joseph Domino 480-390-...
Scottsdale, AZ
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Michael Jacobs
Pasadena, CA
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Susie Kay
Plano, TX
3,416,038
I give an estimated for residential, most times in commercial or for investors, they ave their own form or at least numbers that are pretty exact Fred Griffin . With owner occupied sellers, i do go over the different costs and what they mean.
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Nina Hollander, Broker
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Michael Jacobs
Pasadena, CA
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Lyn Sims
Schaumburg, IL
648,000
Yes, the title companies I use have apps to prepare an ESTIMATE which I always stress is an estimate and based on what they have told me since we do not have mortgage payoff or any liens they have not disclosed.
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David M. Dwares
Fort Lauderdale, FL
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Nina Hollander, Broker
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
1,847,471
Yes I do but I do it at the listing presentation on what they will net. Then we have a sorta price in mind. They usually loose it & I have to do it again after the offer. Attorney's take it from there.
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Nina Hollander, Broker
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
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Fred Griffin Florida R...
Tallahassee, FL
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Michael Jacobs
Pasadena, CA
3,350,289
I do not personally create the sellers net. I do ask my escrow officer to create an estimated net based upon certain assumptions like sales price, the close of escrow, title and escrow fees, taxes, etc.
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Nina Hollander, Broker
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Michael Jacobs
Pasadena, CA
5,583,328
I only do residential....
when I was actively listing property, I would do a very close ballpark net proceed sheet after we negotiated the offer but before they signed it....
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Nina Hollander, Broker
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Michael Jacobs
Pasadena, CA
3,864,366
At the listing...I always find out their bottom line, in order to know if they can afford to sell. I give an approximate net on the asking price. When an offer comes in, I give an approximate net for the offer at hand. If they choose to negotiate they get another approximate net on their counter. Like Candice A. Donofrio I can net it out in my head and give an approximate estimate.
I only do residential.
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Bob "RealMan" Timm
Minot, ND
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Fred Griffin Florida R...
Tallahassee, FL
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Nina Hollander, Broker
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
3,988,013
My net sheet for sellers looks much like yours. I have not had a commercial client ask for one but can see the same one would work.
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Nina Hollander, Broker
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
5,772,593
We worked with their CPA's analyzing the sale. A
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Candice A. Donofrio
Fort Mohave, AZ
2,684,769
When I started in this business, it was "standard practice" to provide a written Seller's Net Proceeds statement.
Today, I don't want the liability. We can verbally discuss it, but I won't put anything in writing.
Residential: I have a Title Attorney or Title Company provide an estimate.
Investors: their CPA can prepare an estimate.
Commercial: I don't sell Commercial.
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Bob "RealMan" Timm
Minot, ND
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Nina Hollander, Broker
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
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Debe Maxwell, CRS
Charlotte, NC
4,583,484
I usually have the escrow company prepare and forward this to the seller.
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Nina Hollander, Broker
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
2,785,156
NO...they get what they get and they have a general idea too
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Michael Jacobs
Pasadena, CA
2,194,706
My State (PA) has a Standard Form , and it is a Requirement to present this to Sellers at Time of Listing AND before Signing Offers .
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Bob "RealMan" Timm
Minot, ND
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Fred Griffin Florida R...
Tallahassee, FL
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Michael J. Perry
Lancaster, PA
716,529
Well... kinda, sorta... maybe.... I don't typically discuss the net... directly. I do the math, show them the gross, the fees and the net..... if they actually ask me.
Ok, maybe I do.
But I have some clients that just don't care or don't want to know. So I ask...
BUT, I do discuss the strategy and where the offers will be coming in, ballpark, and the difference between a good offer, a lousy offer, and an average offer - the spread. So that we know how and how much to counter, if needed, in advance. It's all planned in the big master plan. It's all strategy.
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Bob "RealMan" Timm
Minot, ND
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Nina Hollander, Broker
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
1,325,114
Depends. Some sellers who are not familiar with the process value the information. I prepare the estimate form with the costs on the high side. Seller is pleased when actual net to them is more. I tell them to expect that outcome. Woe is me if I were to understate the costs, inflate the estimated net and have the real net be less. Title company always furnishes an estimate just before closing that is more exact. I always carefully review it for accuracy.
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Bob "RealMan" Timm
Minot, ND
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
2,401,675
I only discuss it if they bring it up Fred Griffin .
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
5,256,911
Yes, Fred - we review it before listing and they sign it. Typically if there are multiple Offers, we move to a spreadsheet.
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Fred Griffin Florida R...
Tallahassee, FL
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
140,560
Yes, I made my own net sheet using Excel and it auto calculates title, search / exam, doc stamps on the deed, prorates property taxes, and will let me add payoffs, attorney fees, estoppel fee, liens and whatever else I need to add.
The seller signs it, I sign it and everyone gets a copy.
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Fred Griffin Florida R...
Tallahassee, FL
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
6,422,173
We have a worksheet on dotloop for this.
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Fred Griffin Florida R...
Tallahassee, FL
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
1,574,666
I do provide a very broad estimate and when offers are received my Title Companies provide a more detailed estimate to use for decision making if needed.
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Bob "RealMan" Timm
Minot, ND
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Fred Griffin Florida R...
Tallahassee, FL
4,800,132
I do discuss this and do have a form, but I don't always know the lender and title charges exactly.
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Bob "RealMan" Timm
Minot, ND
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Fred Griffin Florida R...
Tallahassee, FL
5,243,218
Always did a net sheet estimate for seller's. That gave them an idea of the bottom line!
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Bob "RealMan" Timm
Minot, ND
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Fred Griffin Florida R...
Tallahassee, FL
5,115,152
I do a very "rough and dirty" with my sellers if they ask. The majority already know what the approximate bottom line will be without me. With everyone suing everyone else these days, I hesitate to put too much of things like this in writing.
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Bob "RealMan" Timm
Minot, ND
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Fred Griffin Florida R...
Tallahassee, FL
3,071,489
We do - and it's provided by our title company
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Bob "RealMan" Timm
Minot, ND
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Fred Griffin Florida R...
Tallahassee, FL
766,569
I most often don't give one in advance since we meet and sign the listing agreement before they ask for it.
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Bob "RealMan" Timm
Minot, ND
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Fred Griffin Florida R...
Tallahassee, FL
519,324
We have an Estimated Net Proceeds Worksheet in our MLS that I provide my sellers at listing time and again when we are finalizing an offer. I have one initialed and added to the file so that at closing, should they be surprised by any charges, we can review that one. It's "estimated" but pretty close most of the time.
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Bob "RealMan" Timm
Minot, ND
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Fred Griffin Florida R...
Tallahassee, FL
4,319,773
Fred Griffin - thanks for sharing this. Yes, my market analysis always has this - and sellers are surprised at what they net!
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Bob "RealMan" Timm
Minot, ND
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Fred Griffin Florida R...
Tallahassee, FL
544,014
I show them a spreadsheet that can have the variables changed to provide what-if scenarios
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Fred Griffin Florida R...
Tallahassee, FL
5,878,935
YES, that is truly the only thing the Seller wants to know from the listing presentation. I created one years ago, with a few tweaks over the years.
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Fred Griffin Florida R...
Tallahassee, FL
3,986,308
Minnesota is required to give an estimate
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Fred Griffin Florida R...
Tallahassee, FL
667,939
Fred ~ I do not give them a seller net sheet, but at the beginning of the sales process I email them a excel spreadsheet to help estimate their net proceeds. They put in their mortgage balance and then when offers come in they can adjust for sales price, seller subsidy, home warranty, etc to see what to expect. It is really helpful when we are reviewing multiple offers remotely so that understand the impact of as terms get changed from offer to offer.
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Fred Griffin Florida R...
Tallahassee, FL
7,869,077
This is certainly an important topic for discussion.
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Fred Griffin Florida R...
Tallahassee, FL
4,904,820
We are able to generate one in our on-line forms system (ZipForm). I do provide one for the seller and a buyer estimate for the buyer.
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Fred Griffin Florida R...
Tallahassee, FL
4,434,177
1,525,616
I ususally ask our mortgage or title company to provie that for sellers.
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Fred Griffin Florida R...
Tallahassee, FL