3,349,434
My title company provides an estimated closing statement for buyer and seller clients. Title and Escrow are the same in my county.
I do not believe it is a legal requirement in California. I have always provided one to my clients.
I believe the lender is required to provide closing cost information in the closing CD.
-
Doug Dawes
Topsfield, MA
-
Buzz Mackintosh
Frederick, MD
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
John Juarez
Fremont, CA
-
Roy Kelley
Gaithersburg, MD
-
Shayne Stone
Fulshear, TX
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
587,358
Not in the state of Texas. And glade it's not. As I prefer to provide estimates and not have the responsibly of being held accountable for something I have no control over except for the Sale Price!
-
Joan Cox
Denver, CO
-
Brenda Mayette
Glenville, NY
-
Doug Dawes
Topsfield, MA
-
Buzz Mackintosh
Frederick, MD
-
Bob "RealMan" Timm
Minot, ND
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
John Juarez
Fremont, CA
-
Roy Kelley
Gaithersburg, MD
-
Shayne Stone
Fulshear, TX
3,589,741
My clients receive a estimate from my office before we open escrow. I let clients know it's an 'estimate and figures most likely will change in escrow once they have final figures on all items.
Escrow agent sends me the final settlement statement for review 3 or 4 days before COE and then goes over it in detail with clients with clients at signing (whether that's via net or in person)
Is it a requirement? No.
-
Brenda Mayette
Glenville, NY
-
Doug Dawes
Topsfield, MA
-
Buzz Mackintosh
Frederick, MD
-
Bob "RealMan" Timm
Minot, ND
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
John Juarez
Fremont, CA
-
David M. Dwares
Fort Lauderdale, FL
-
Roy Kelley
Gaithersburg, MD
-
Shayne Stone
Fulshear, TX
2,400,346
If I were still an active Broker I would avoid that unnecessary paperwork in fear, as you say, that the numbers may not match up at closing with the final closing statement or ALTA.
-
Joan Cox
Denver, CO
-
Doug Dawes
Topsfield, MA
-
Buzz Mackintosh
Frederick, MD
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
John Juarez
Fremont, CA
-
Roy Kelley
Gaithersburg, MD
-
Shayne Stone
Fulshear, TX
-
Carol Williams
Wenatchee, WA
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
2,684,569
Hi, Peter
When I started with Coldwell Banker, it was a given that you did a Seller's Net Proceeds, and/or a Buyer's Estimated Cost to Close.
I moved on to Century 21. Two different offices. The Broker of my second C21 office said, "No! Leave that to the Title Company, the Lender, or someone else. Too much liability for the agent and the Broker if you get it wrong."
From that day to this, I don't do either calculation. Yes, I discuss it verbally at the time of listing with a Seller, or upon the first meeting with the Buyer ("Did the Lender discuss the costs with you, give you a sample CD, or some other breakdown?"). But I won't prepare or put my signature on any net sheet or cost to close itemization.
-
Candice A. Donofrio
Fort Mohave, AZ
-
Brenda Mayette
Glenville, NY
-
Doug Dawes
Topsfield, MA
-
Buzz Mackintosh
Frederick, MD
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
John Juarez
Fremont, CA
-
Shayne Stone
Fulshear, TX
-
Carol Williams
Wenatchee, WA
-
Bob "RealMan" Timm
Minot, ND
3,167,614
No and am no longer in the habit of giving them a written net sheet, but I do tellt hem what their costs are in the offer to X minus those then minus any liens
-
Candice A. Donofrio
Fort Mohave, AZ
-
Doug Dawes
Topsfield, MA
-
Buzz Mackintosh
Frederick, MD
-
John Juarez
Fremont, CA
-
Roy Kelley
Gaithersburg, MD
-
Shayne Stone
Fulshear, TX
-
Bob "RealMan" Timm
Minot, ND
-
Fred Griffin Florida R...
Tallahassee, FL
1,323,064
Provision of an Estimated Seller's or Buyer's Net Sheet is provided by the title/escrow companies for us and our clients. It is sent to me for review and then I sent it to my client.
Nailed by Kathleen Daniels, Probate & Trust Specialist
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
-
Fred Griffin Florida R...
Tallahassee, FL
-
Joan Cox
Denver, CO
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
7,863,525
Our title companies provide the information.
-
Doug Dawes
Topsfield, MA
-
Buzz Mackintosh
Frederick, MD
-
Bob "RealMan" Timm
Minot, ND
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
John Juarez
Fremont, CA
-
Shayne Stone
Fulshear, TX
902,038
It's not a requirement in Connecticut, but I have done that for clients, especially when introducing various different scenarios or numbers.
-
Doug Dawes
Topsfield, MA
-
Buzz Mackintosh
Frederick, MD
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Roy Kelley
Gaithersburg, MD
-
Shayne Stone
Fulshear, TX
1,056,402
Prior to closing? Prior to accepting the offer!
-
Fred Griffin Florida R...
Tallahassee, FL
-
Doug Dawes
Topsfield, MA
-
Buzz Mackintosh
Frederick, MD
-
Bob "RealMan" Timm
Minot, ND
6,418,162
We provide one when we list the property, and the title company provides one a few days before closing, not sure if it is the law, however it is policy here.
-
Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
-
Doug Dawes
Topsfield, MA
853,122
Not in NY's Capital Region. We leave that to the lender & attorney. I'll help map out a general idea IF requested but no way I'm putting my name on it or making any guarantees associated with it... That's one of those things that's outside of my wheelhouse and that's when trouble can happen. ;)
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
-
Bob "RealMan" Timm
Minot, ND
5,239,949
When listing property I provided an estimated net sheet subject to verification of the numbers. Once listed and under contract the title company or attorney took over. It was disclaimed as an estimate only based on the fats known at the time.
-
Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
1,201,612
We have the ability to do that but it is not a State requirement for an agent in MA as far as I know. U
-
Bob "RealMan" Timm
Minot, ND
-
Joan Cox
Denver, CO
633,060
Maryland does not require, but I always provide a net sheet with a +/- estimate. Title companies also provide one and have a calculator to estimate a Seller's net on their website.
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
5,877,345
I do provide a net sheet to my Sellers, and on that sheet, it says it is "approximate", and usually do a more accurate one once they receive an offer, and everyone knows the numbers.
-
Bob "RealMan" Timm
Minot, ND
913,468
Most title companies will provide them. I sometimes still do one just for practice to see how close i am to the one done by title company.
3,138,932
420,003
I do not know of any state license for agents/ Realtors/brokers. I'm NMLS licensed in 20 state so not in any of those. Lenders are regulated tightly to disclose to buyers only. It would be near impossible for an agent/Realtor to know a seller's exact payoff, what liens float around out there, and taxes due. I advise you to steer away from giving a net sheet without the preliminary title report, statement of information reviewed by title officer, and actual payoffs. Too many moving targets
906,327
Our office requires it for sellers. I don't believe it is a rule. It's a good practice so there aren't any surprises. It is also a good idea to make sure the seller has the equity to payoff their mortgage. Not as big of an issue in this market but it can be in a down market.