Fred Griffin Florida Real Estate, Licensed Florida Real Estate Broker (Fred Griffin Real Estate)

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Rainmaker
895,805
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

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.

May 15, 2018 04:09 PM
Rainmaker
508,283
Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

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. 

May 15, 2018 04:21 PM
Rainmaker
3,331,953
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

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.

May 15, 2018 04:17 PM
Rainmaker
543,479
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

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.

May 15, 2018 06:13 PM
Rainmaker
1,723,705
Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

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.

May 15, 2018 04:41 PM
Ambassador
3,058,507
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

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. 

May 15, 2018 04:40 PM
Rainmaker
5,571,934
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

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....

May 15, 2018 04:08 PM
Ambassador
3,481,268
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

 

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.

May 15, 2018 11:13 PM
Ambassador
3,986,710
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

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.

May 15, 2018 06:31 PM
Rainmaker
5,592,923
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

We worked with their CPA's analyzing the sale.  A

May 15, 2018 05:13 PM
Ambassador
2,571,547
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     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.  

May 15, 2018 04:56 PM
Rainmaker
4,103,751
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I usually have the escrow company prepare and forward this to the seller.  

May 15, 2018 04:44 PM
Rainmaker
2,642,412
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

NO...they get what they get and they have a general idea too

May 15, 2018 04:15 PM
Rainmaker
2,024,300
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

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 .

May 16, 2018 06:33 AM
Rainmaker
710,004
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

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.

May 15, 2018 08:00 PM
Rainmaker
911,686
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

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.

May 15, 2018 07:43 PM
Rainmaker
1,901,598
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I only discuss it if they bring it up Fred Griffin .

May 15, 2018 07:01 PM
Ambassador
4,260,099
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Yes, Fred - we review it before listing and they sign it. Typically if there are multiple Offers, we move to a spreadsheet.

 

Seller Net Sheet

May 15, 2018 06:55 PM
Rainer
140,360
Richard L. McKinney P.A.
Atlantic Shores Realty Expertise - Port St Lucie, FL
For Results that MOVE you on the Treasure Coast!

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.

May 15, 2018 06:28 PM
Ambassador
5,415,583
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

We have a worksheet on dotloop for this.

May 15, 2018 06:15 PM
Rainmaker
1,573,298
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

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.

May 16, 2018 06:09 AM
Rainmaker
4,799,501
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I do discuss this and do have a form, but I don't always know the lender and title charges exactly.

May 16, 2018 05:57 AM
Rainmaker
4,216,199
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Always did a net sheet estimate for seller's. That gave them an idea of the bottom line!

May 16, 2018 05:25 AM
Rainmaker
4,123,703
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

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.

May 16, 2018 05:15 AM
Rainmaker
3,069,984
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

We do - and it's provided by our title company

May 16, 2018 05:14 AM
Rainmaker
645,998
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Santa Clarita & Aliso Viejo

I most often don't give one in advance since we meet and sign the listing agreement before they ask for it.

May 15, 2018 11:34 PM
Rainmaker
514,124
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

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. 

May 15, 2018 11:34 PM
Ambassador
4,312,759
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Fred Griffin - thanks for sharing this. Yes, my market analysis always has this - and sellers are surprised at what they net!

May 15, 2018 11:07 PM
Rainmaker
527,095
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

I show them a spreadsheet that can have the variables changed to provide what-if scenarios

May 21, 2018 04:05 AM
Rainmaker
4,945,401
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

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.

May 18, 2018 02:46 PM
Rainmaker
3,985,875
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Minnesota is required to give an estimate

May 16, 2018 08:42 PM
Rainmaker
593,446
AJ Heidmann ~ CRS
McEnearney Associates, Inc. - Alexandria, VA
YOUR Alexandria & Arlington, VA Real Estate Expert

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.

May 16, 2018 11:03 AM
Rainmaker
6,614,661
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is certainly an important topic for discussion. 

May 16, 2018 10:43 AM
Rainmaker
4,048,667
Richard Weeks
Dallas, TX
REALTOR®, Broker

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.

May 16, 2018 09:16 AM
Rainmaker
4,433,703
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Written and signed by them

May 16, 2018 07:55 AM
Rainmaker
1,525,305
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I ususally ask our mortgage or title company to provie that for sellers.

May 16, 2018 07:11 AM