Agency
What is a Nevada seller's net sheet and what role does the listing agent play in preparing it?
AA net sheet is an NRED-required document that only escrow can prepare
BA seller's net sheet is an estimate the listing agent prepares showing the seller's projected proceeds after deducting commissions, closing costs, and loan payoff — it is an important advisory tool✓ Correct
CA net sheet is prepared only by the title company
DNet sheets are only used in commercial transactions
Explanation
A seller's estimated net sheet helps Nevada sellers understand their projected net proceeds from the sale. The listing agent typically prepares it using estimated commission, title/escrow fees, property taxes, any remaining mortgage balance, and other seller-paid costs.
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Key Terms to Know
Closing Costs
Fees and expenses paid by the buyer and/or seller at the closing of a real estate transaction, in addition to the property's purchase price.
EscrowA neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Math Concepts
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