The Danberry Net Sheet

Every offer.
One clear answer.

Net Sheet

New Net Sheet

Property Information

Seller Expenses

Listing Commission
Used for an offer whose buyer has no agent, when the listing agreement has a rate for that.
Required: answer Yes or No.

Payoffs
Closing fees

These fees are estimates. The title company has the final numbers at closing.

Offers 1

Results

Enter an offer price above to see the results.

How the numbers are figured (and disclaimers)
  • Escalation: an escalating offer's price goes up just enough to beat the best other offer by its escalation amount. Both are measured after offer costs: the five costs in paragraph 1(d) of the addendum (seller concessions, the buyer's agent fee, taxes, the home warranty and title). The price is the lowest whole dollar that does it, and it never goes below the offer price.
  • Price cap: the price never goes above the price cap. If it would, the price is the cap (paragraph 1(b)).
  • Bidding wars: when two or more offers escalate, they take turns going up until none can beat the others. Often one or both stop at their caps. Each step is under Results, in "How the bidding went".
  • Title insurance is figured on the final price, rounded up to the next $1,000 (the Ohio rate card counts part of $1,000 as a whole one). Ohio Standard Owners policy, for each $1,000: $5.80 up to $250,000, $4.10 up to $500,000, $3.20 up to $1 million, $3.10 up to $5 million, $2.90 up to $10 million and $2.60 above that. It's at least $225. Enhanced Homeowners costs 15% more (at least $250). On the Wooster contract the seller pays half (paragraph 7). Michigan: the seller pays for a homeowner's policy (paragraph 11): $500 for the first $20,000, then for each $1,000: $6.42 up to $100,000, $4.55 up to $200,000, $3.75 up to $300,000, $3.21 up to $1 million and $2.25 above that.
  • Ohio taxes: the 6-month tax is doubled for the year, then divided by 365 for one day. The closing day is the buyer's. Due and payable: the seller pays from the last due date (Dec 20 or June 20) to closing. Lien: for a closing from January 1 to June 19, the seller pays from July 1 of the year before; for a closing from June 20 to December 31, from January 1. Paragraph 9: Lucas County always uses due and payable; other counties use lien unless the offer checks due and payable. The Wooster contract counts to the closing date, like lien (paragraph 13).
  • Tax bills due by closing: a tax bill that comes due by closing is the seller's, whatever the tax method (paragraph 20). The sheet adds it to that offer's seller expenses, so offers that close before and after a due date compare fairly. It assumes the seller is up to date on taxes: each half counts as paid once the county's collection date arrives (shown under the county; Feb 28 and Aug 20 where a county's dates aren't confirmed). If the seller is behind, add the past-due amount under Miscellaneous.
  • Michigan taxes follow each offer's method (paragraph 14), starting from the township's custom. The summer and winter bills are split one at a time, and the closing day is the buyer's. With an advance method, the seller gets a credit. The sheet doesn't add a bill that is due and unpaid at closing: for that offer, set its Tax method to "Type in an amount" and include the bill. Always check with the township or city.
  • Seller expenses come off every offer: payoffs, the listing fee plus the brokerage fee, the closing fees, the conveyance fee or transfer tax, an Ohio tax bill due by closing, and Miscellaneous. The listing fee, conveyance fee and transfer tax are figured on each offer's final price. Ohio conveyance fee: the county's rate for each $1,000, plus $0.50 for each parcel (Wood and Wayne round the price up to the next $100 first). Michigan transfer tax: $4.30 for each $500 or part of $500 ($0.55 if the seller doesn't pay the state part).
  • Whole dollars: every line shows in whole dollars, and each total is the sum of the lines shown, so the subtraction checks out on a calculator.
  • FHA/VA: an FHA/VA addendum seller contribution counts like a concession. The most the seller pays for repairs the lender requires is shown, but not taken off the net: no one knows the real cost until the appraisal.
  • When the seller accepts an escalated offer, send the buyer's agent a copy of the offer it had to beat, with nothing blacked out, along with the signed acceptance.
  • The seller doesn't have to accept the highest offer. This sheet helps figure prices and nets. Check its numbers against the signed documents.

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