money’. This amount is held in trust by the the listing agent’s brokerage. The deposit money also gives you some security if the buyer defaults on the deal. There may be some exceptions to this rule, which I can discuss with you in greater detail.
CLOSING
This contract also contains the proposed closing date. Most closing dates are set for 30 to 90 days out. When reviewing the offer, we will discuss whether or not the proposed closing date works for you.
CLOSING COSTS
On every transaction, the seller has their own closing costs (sales commission, legal fees, mortgage penalty) and the buyer has their closing costs. The costs of legal fees for selling is generally about $200 less than when buying. Your net offer is the sales price offered less the above expenses. If you are selling to purchase another home it is very important that we look at the net amount anticipated to make sure there is enough equity to purchase the next home you desire. We will review together to determine if the offer submitted fulfills your goals. Remember a buyer will not overpay for your house so you have enough to purchase the next one you want. Essentially that would be expecting the buyers to finance part of your next home by over paying you for your home!
SELLER’S ESTIMATED NET SHEET
I can provide you with an estimated net sheet showing the amount you will net at closing after all costs and based on the offer submitted. This helps you make an informed decision
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