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How much will I take home at closing?
What will I receive in net proceeds at closing?
In Michigan, sellers pay the commissions for both the listing agent and the buyer's agent. As an experienced realtor, the first thing I do to answer these questions is to gather some information about the seller's property. For example, I analyze the current market value of your home, any outstanding mortgage balances, and any other liens or encumbrances that could affect the property's sale.
Once I have this information, I can provide you with an estimate of their net proceeds at closing. This estimate will take into account all of the costs associated with selling the property, including real estate commissions, closing costs, and any other fees that may be incurred.
It's important to note that this estimate is just that – an estimate. At closing, you will receive your Net Seller Sheet. A Net Seller Sheet is a document that provides a breakdown of the estimated costs and proceeds associated with the sale of a property. The purpose of the Net Seller Sheet is to give you, the seller, an estimate of the net proceeds you can expect to receive from the sale after all expenses and costs have been deducted.
The Net Seller Sheet typically includes a list of all the costs and fees associated with selling the property, such as real estate commissions, title fees, closing costs, and any outstanding liens or mortgages. It will also include a breakdown of the estimated sale price of the property, any deductions or credits, and the final estimated net proceeds that you can expect to receive at closing.
The Net Seller Sheet is an important document for sellers because it helps you to understand the financial implications of the sale of your property and to make informed decisions about pricing and negotiations. As a real estate professional, it's important to me to provide you with a clear and accurate Net Seller Sheet, ensuring you have a clear understanding of the costs and proceeds associated with the sale of your home.
In short, the final net proceeds highlighted on the Net Seller Sheet will depend on a variety of factors, such as the final sale price, the buyer's financing, and any negotiations that take place during the closing process.
As a veteran West Michigan realtor, my goal is to provide you, the seller, with as much information as possible so you can make informed decisions about the sale of your home. As your advocate, I encourage you to ask any questions you have and to seek additional advice from other professionals, such as a real estate attorney or financial advisor, if necessary.
Another great resource is located here: https://transagentapp.com/app/seller