Submisssion Of A" NET" Sheet?
I am in the process of doing a short sale.........submitted what I thought was all the necessary documentation. NOW the bank is asking for a "preliminary Net sheet"! This is only my second time having any dealings witha short sale. Can someone please tell me what this is, where do I get it , or what information should be included. PLEASE HELP!!!!!!!! :-( null
A net sheet in a nutshell gives the lender an "estimate" of what they will net from the short sale. There may be a sample form on this site, if not let me know and I can point you in the right direction.
OK found the sample sheet................what sections should I fill out as the Listing Agent????? I don`t want to fill it out wrong and have it turned down because of inaccurate information.!!
I have seen net sheets as simple as
Buyer will pay all closing costs except the commission to the realtor.
$68,600 contract price
$65,000 net payoff to bank
$3,600 commission to realtor - paid by seller
$3,000 approximate closing costs - paid by buyer.
That simple huh? I guess I was thinking there was more to it! The form I got off of here has a bunch of items that need to be filled in a little confusing........but I will get it done! This short sale is mine!!!!