Does anyone out there use a really comprehensive tool for calculating Seller's NET? I have a tool in our MLS but I'm just not all that happy with it.
Suggestions?
Ron,
Call your Title Company. I have a great program that was provided by title company rep and sellers love to see it as you know. The bottom line is all that most are looking at when they want to sell.
Unfortunately I'm hooked on the calculator. A close friend built a spreadsheet to do his and then transferred it to his pda.
Ron, I set mine up in an excel spreed sheet and I have one for the buyer and one for the seller. The only area I don't calculate is the pro rated property tax. I will do it if they ask but the formula that was need was to complex to fool with. I always label it as an ESTIMATED Hud, in the event I am wrong on something but I am normally within a few dollars. Mt title company will run one for me, if I ask them but I seldom do. Once you set it up, you just have to plug in the sale price and it will fill in the fields. The only other problem that I have run into is the bank fees since I don't have them. Normally the client does and my sheet tells them to deduct things like that that I don't have readily available. I just used a HUD to build the spreed sheet.
I use the one out of the MLS also, and like you said it is not that great. I have learned to work it pretty good and get pretty close to what the net is on the HUD-1. I am often $500.00 or less off the figure on the HUD. We have another spread sheet developed by one of the agents in the office I'll use to check the MLS form if I think it is off too much...they usually come out pretty close.
Our title company provides a very good program that creates flyers, CMA's and net sheets. They are accurate, updated regularly and professional. It will calculate the estimates for you, or you can manually add amounts.
Like Gary, I set up an excel spreadsheet called estimated sellers net that I provide at listing and can modify it for an offer and counter offer scenario upon getting a contract.
Hi Ron,
Chicago Title has one called Bottom line that does a good job for me.
It is easy and you can add extra fields for items not standard like septic inspections,Home inspections and several others. Looks good and has the signature line filled in at the bottom. I can try to e-mail it to you if you like,Let me know.
I am like some of the others above - I use an excel spreadsheet program for the sellers net. Just plug in the sales price and any cost that is not pre programmed in.
MS Excel always excel for me. You also have its counterpart, Qauttro Pro, not the Audi, Corel Office Pro.
You can gear up with MS Infopath which lets you create a more sophisticated template and throw in some Excel columns and you have a nifty presentation.
Of course, the old calculator hand job is always reliable when the computers are out.
We use either First American's or The Talon Group's online Calculators. They both allow you to work up to three scenarios at a time which is useful when going on listing appointments. You just plug in the sales price, property taxes, date of their current title policy, commission splits and any other misc. fees you want it is all calculated for you.
Top Producer has a "seller net" report that works fine. Creates a PDF you can email if you like. You have to inform it of costs, using percentages or actual dollars. For rough estimates, I use 1% of sale price for title work, seller transfer tax and tax prorations (OHIO) and 1.2% in the other state (MI). Add commission, home warranty, seller concessions, and viola! Close enough...
I use the one from the title company.