Top Producer^® 8i CRM: Creating Buyer and Seller Net Sheets

Buyer and seller net sheets are tools for helping clients understand the approximate costs of buying or selling a home. They’re a great way of preparing clients for costs they may not have anticipated.
Before you can create net sheets, you must first create default expenses and costs. When it comes time to create a net sheet, you’ll select from your list of default expenses and costs to add to your net sheet.

Defining Default Net Sheet Expenses and Costs

Default net sheet expenses and costs are divided into 3 categories: closing costs, selling expenses, and prepaid expenses.

1. Go to the Applications main menu icon and click either Buyer Net Sheets or Seller Net Sheets from under the Financial section.
2. From the Buyer or Seller Net Sheets page, click the Manage Defaultslink to open the Manage Defaults page.

   

   There are 3 tabs on the page for each type of default expense or cost. The steps to create a default cost or expense are the same, regardless of the type you’re creating. In this example, we’ll create a default closing cost.

   

3. From the Default Closing Costs tab, click the Add Default Closing Cost link to open the Add Default Closing Cost segment below.

   

4. Enter a description and make sure it easily identifies the cost.
5. You can enter either a fixed amount or a percentage, and decide if the cost appears on the net sheet report.
6. Click the Add Default Closing Cost button to save the default cost.
7. The default cost appears under the appropriate tab on the Manage Defaults page.

Creating a Buyer Net Sheet

Buyer net sheets are used to help potential buyers understand the costs they’ll be responsible for upon completion of a sale.

1. Go to the Applications main menu icon and click Add Buyer Net Sheets from under the Fiancial section to open the Add Buyer Net Sheet form.
2. From the Contacts Look-up tool, click the next to a contact to view a list of linked properties. Drag and drop a property onto the Prepared for field.
3. Enter in as many details as possible, such as purchase price, mortgage amount and type. Clicking “Yes” for the Apply Defaults option button applies all default closing cost and prepaid expenses to the net sheet. Selecting “No” allows you to choose only the ones you want later.
4. Click the Add & View Buyer Net Sheet button to save and open the net sheet on the Buyer Net Sheet Details form.

Editing a Buyer Net Sheet

Once you save a buyer net sheet, you can edit it at any time.

1. From the Applications main menu icon, go to Buyer Net Sheets from under the Financial section.
2. From the Buyer Net Sheets page, click on the contact name for whom the net sheet was created.
3. The Buyer Net Sheet Details form is divided into 3 tabs:
   1. Buyer Net Sheet Details tab: View or change the net sheet details. Click the Save Buyer Net Sheet button to save your changes.
   2. Closing Costs tab: To add default closing costs to the net sheet, click the Select from Defaults link to open a pop-up window.

      

      Place a check mark next to the closing costs you’d like to apply, and click the Apply Defaults button.

      To create a new closing cost for the net sheet, click the Add Closing Cost link. Enter the details in the Add Closing Cost segment and click the Add Closing Cost button.

   3. Prepaid Expenses tab: Click the Select from Defaults link to add default expenses to the net sheet, or the Add Prepaid Expense link to create a new prepaid expense. Enter the expense details in the Add Prepaid Expense segment and click the Add Prepaid Expense button.

Creating a Seller Net Sheet

Seller net sheets are used to help potential sellers understand the costs they’ll be responsible for upon completion of a sale and the net cash they’ll receive upon closing.

1. Go to the Applications main menu icon and click Add Seller Net Sheets under the Financial section to open the Add Seller Net Sheet form.
2. From the Contacts Look-up tool, click the next to a contact to view a list of linked properties. Drag and drop a property onto the Prepared for field.
3. Enter the selling price. Clicking “Yes” for the Apply Defaults option button applies all default selling expenses to the net sheet. Selecting “No” allows you to choose only the ones you want later.
4. Click the Add & View Seller Net Sheet button to save and open the net sheet on the Seller Net Sheet Details form.

Editing a Seller Net Sheet

Once you save a seller net sheet, you can edit it at any time.

1. From the Applications main menu icon, go to Seller Net Sheets under the Financial section.
2. From the Seller Net Sheets page, click the contact name for whom the net sheet was created.
3. The Seller Net Sheet Details form is divided into 2 tabs to organize the net sheet information:
   1. Seller Net Sheet Details tab: View or change the net sheet details. Click the Save Seller Net Sheet button to save your changes.
   2. Selling Expenses tab: To add default selling costs to the net sheet, click the Select from Defaults link to open a pop-up window. Place a check mark next to the selling costs you’d like to apply, and click the Apply Defaults button.

      To create a new selling expense for the net sheet, click the Add Selling Expense link.

      
      Enter the expense details in the Add Selling Expense segment and click the Add Selling Expensebutton.

      Note: Selling expenses and closing costs created from net sheets only apply for the net sheets from which they’re created. They aren’t default expenses, and therefore can’t be used when creating or editing other net sheets.

Creating a Net Sheet Report

Once you’ve created your net sheets, printing out a buyer or seller net sheet report to give to your clients takes no time.

1. Open a buyer or seller net sheet.
2. From the net sheet header, click the Print Report icon to preview the report on a new Internet browser tab. From here you can print the report or save it as a PDF file to your computer.
3. Close the previewed report to return to the net sheet.

Log in to create net sheets.