FAQ #11 for Buyers: What is a Buyer's Net Sheet?

Real Estate Agent with Cedar Rapids/Iowa City, IA KW Legacy Group S44645

Before you sit down to write a purchase agreement, we will sit down and fill in what is called a buyer's net sheet.

What is a Buyer's Net Sheet?

Buyer Net Sheet is a list of all of the costs associated with buying a home.  Not only does this include the lender fees that were estimated on the good faith estimate, but also the local closing fees, recording fees, inspections, and other costs associated with closing.  The net sheet will also reflect any credits to your side of the settlement including your earnest money, closing cost or discount point assistance from the sellers, and a tax proration to the date of the closing.

We start with the lender's good faith estimate of closing costs.  Included are the following:


Loan origination fee  (if applicable)

Loan commitment fee  (if applicable)

Credit Report

Flood Certification

Title Opinion

Title Guaranty


First Year of Home owner's insurance

Escrow for Taxes and Insurance

Other fees that are included on the net sheet outside of the lender costs are items such as:

Prepaid interest and taxes from the date of the closing to the end of the month

Home inspection

Termite Inspection

Radon Inspection

Closing Service Fee

You will also have at least 2-3 credits on your side of the settlement:

Earnest money deposit

Tax proration

Seller's contribution to your closing costs and/or prepaid expenses

After we determine the purchase price that you would like to pay, the date that you would like to close, the amount of down payment that you are applying, and your total out of pocket, we will be able to confidently offer on the home of your dreams.

This process will be tweaked if there is a counter offer from the seller so that we know exactly what we need to make the price and terms comfortable for you for years to come.

Understanding all of the facts and figures are so important before you make an offer and during the negotiation process.  Trust a professional to guide you in making your decison!  Please let me know if you would like to meet with me for a free home buyer consultation and we will start your home search right away!

Keep smiling!




Posted by


Karen Feltman, REALTOR®, ABR, AHS, CHMS,                                                                      CNE,CRS, e-Pro, green, GRI, SRES, TRC

Keller Williams Legacy Group

4850 Armar Drive SE Ste B

Cedar Rapids, Iowa 52403

Email: karenfeltman@gmail.com

Mobile  319-521-0701


Licensed in the State of Iowa

© 2010-2018 by Karen Feltman, Cedar Rapids/Iowa City Relocation Specialist 


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Melissa McKinney
McKinney Realty Group - Fayetteville, NC
Realtor, www.LivingFayetteville.com

Karen~The more informed a buyer is the smoother the process!

Jan 15, 2011 10:30 AM #1
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Karen Feltman

Relocation Specialist in Cedar Rapids, Iowa
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