A seller net sheet is a vital document used in real estate closing that shows an estimated amount the seller would receive by selling their home after all the deductions. These deductions are nothing but the various costs deducted from the seller’s account during the closing process.
The seller net sheet is comprised of 3 types of costs in total. You can find all These are-
Costs related to the mortgage/ Liens. These costs could be home equity loans, HOA assessment, penalty on loans, and other costs. Legally, sellers are supposed to pay these costs before the title is transferred to the buyer’s name.
Closing costs. These cost components include attorney fees, repair costs, prorated taxes and dues, and various other costs required at the time of closing. Revenue stamps, costs for surveys, and recording fees are also included under closing costs as well.
Premarketing. Premarketing costs are spent on the closing process before the buyer and seller come together to sign the deal. These costs involve property and pest inspection fee. Additionally, home inspections and appraisals charges are also clubbed into premarketing charges.
