Contracts
In Montana, a 'net sheet' prepared by a real estate agent for the seller shows:
AThe buyer's closing costs
BAn estimate of the seller's net proceeds after deducting mortgage payoffs, commissions, and other closing costs from the expected sale price✓ Correct
CThe property's net operating income
DThe mortgage company's net proceeds from the loan
Explanation
A seller's net sheet is an estimate of how much money the seller will receive at closing after subtracting all expenses: mortgage payoffs, real estate commissions, title and escrow fees, taxes, and other closing costs from the expected sale price.
Related Montana Contracts Questions
- In a Montana real estate transaction, 'liquidated damages' in a purchase contract refers to:
- An offer becomes a binding contract when:
- Earnest money in a Montana real estate transaction is best described as:
- In Montana, an 'acceleration clause' in a deed of trust allows the lender to:
- In Montana, which of the following would make a real estate contract voidable rather than void?
- In Montana, when a seller accepts a buyer's offer to purchase, the moment acceptance is communicated to the buyer creates:
- A Montana seller's counteroffer that changes the price from $310,000 to $295,000 must be:
- In Montana, 'integration clause' (also called 'entire agreement' or 'merger clause') in a real estate contract states that:
Practice More Montana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Montana Quiz →