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Down Payment Assistance Net Proceeds Worksheet
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Use this worksheet to estimate the net proceeds of your home safe. |
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| Seller Estimated Net Proceeds Worksheet |
Seller Estimated Net
Proceeds Calculator
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Sale W/O
DPA
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Sale With
DPA
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| List Price of Home |
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| Average % Reduction |
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0%
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| Sales Price |
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| Less: Gift + $290 Fee |
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| Less: Sale Commission |
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| Less: Closing Costs Estimate 2% |
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| Net Proceeds to Seller |
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Which way works best for you? Money wise? Timewise? Check with your Realtor or lender. |
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Use the worksheet here to estimate the net cash to the seller from two types of sales. |
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List Price of Home - The asking price or appraised value of a marketed property for sale.
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Average % Reduction - The difference between the asking price and the actual selling price. The average % reduction is the average of these differences, and usually ranges from 3% to 7% depending on the specific real estate market and time.
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Sale price - The final sale price negotiated between the parties.
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Gift - This is a donation fee to the Program Fund, and is equal to a gift amount needed + $250 administrative fee + $40 wire fee.
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Sales Commission - Real estate sales commissions usually range from 6% to 7%.
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Closing Costs - The standard costs associated with selling a home, and include settlement charges, title searches, inspections, transfer taxes, wire fee, etc.
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All else being equal, your net proceeds will be approximately the same whether or not you utilize the Buyers Assistance Program. Consequently you might as well benefit from the increased marketing abilities and the decreased marketing time opportunity offered by the Buyers Assistance Program.
Please understand that you are committed to a contribution only if a homebuyer utilizing the Buyers Assistance Program purchases your home. The closing agent will make the contribution only after a successful closing of the sale of the home through escrow.
The seller's fee may be tax deductible as a cost of sale, which may have even greater tax benefits for you. Please consult your tax advisor for more information. |
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