Get Net Proceeds Worksheet: Sales Price: $ Seller's ... - Jprlaw

The net proceeds worksheet is an essential tool for sellers in real estate transactions, helping to clarify expected financial outcomes after closing expenses are accounted for. This guide will provide detailed instructions for successfully completing the form to ensure you can assess your net gain accurately.

Follow the steps to complete your net proceeds worksheet efficiently.

1. Press the ‘Get Form’ button to access the net proceeds worksheet, which will allow you to open the document in an online editor.
2. Begin by entering the sales price in the designated field: Sales Price: $____________. This value represents the total payment you expect to receive from the buyer.
3. Fill out the seller’s closing costs section. You will need to include various expenses like title charges, survey costs, termite inspection fees (if applicable), attorney fees, and any real estate tax credits.
4. Continue to document any unpaid judgments or realtor commissions that could affect your net proceeds. Make sure to list all relevant items accurately.
5. Next, enter the amounts for any mortgage payoffs under 1st mortgage payoff and 2nd mortgage payoff, if applicable. This includes any remaining balance for these loans that will need to be settled at closing.
6. Include any applicable recording fees and state, county, or city revenue stamps that apply to your transaction. Note the calculation for state revenue stamps is $0.50 per $500 of the sales price.
7. After filling out all costs, calculate the total costs and enter this amount in the designated total costs field: TOTAL COSTS: $____________.
8. Lastly, calculate the balance to seller by subtracting the total costs from the sales price. Enter this amount in the balance to seller field: BALANCE TO SELLER $____________.
9. Once all fields have been completed accurately, you have options to save your changes, download the completed form, print it for records, or share it as needed.

Take action now and start filling out your documents online to simplify your real estate transaction process.