Northwest Indiana Real Estate: Bottom Line 101

THE BOTTOM LINE

Sellers: Free Bottom Line Analysis of Net Profit

To find out how much money you'll net from your house, add up your closing costs and subtract them from the sale price of the house.

Closing Costs for Sellers
Mortgage payoff and outstanding interest.
Prorations for real estate taxes.
Prorations for utility bills, condo dues, and other items paid in arrears.
Closing fees charged by closing specialist.
Title policy fees.
Home inspections.
Attorney's fees.
Survey charge.
Transfer tax or other government registration fees.
Brokerage commission. 

Selling Price - Total = Net Proceeds to Seller

For Buyers: Free Analysis of Out-of-Pocket Costs

Downpayment.
Loan origination fees.
Points, or loan discount fees you pay to receive a lower interest rate.
Appraisal fee.
Credit report.
Private mortgage insurance premium.
Insurance escrow for homeowners insurance, if being paid as part of the mortgage.
Property tax escrow, if being paid as part of the mortgage. Lenders keep funds for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you.
Deed recording fees.
Title insurance policy premiums.
Survey.
Inspection fees-building inspection, termites, etc.
Notary fees.
Prorations for your share of costs such as utility bills and property taxes.

Total= Amount of Buyer's Out-of-Pocket Costs

Contact Us, Willems Realtors, for a FREE Analysis of your BOTTOM LINE. Do not forget to ask for a Net Proceeds Sheet from every Realtor you interview, compare all of them before you sign the dotted line. This will help you choose a competent Agent. Let us demonstrate our knowledge before you sign any paperwork at no charge or obligation.

http://www.willemsrealtors.com/