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HUD Break Out

So, how does a basic HUD break out the costs? Here is a typical example when using a Realtor® for a Real Estate Transaction. You might be surprised at how the numbers work.

Notes	Buyer Costs	Seller Costs
This is the purchase price of the home.	$100,000.00	$100,000.00
Closing Costs Buyer/Seller	$4,500.00	($2,000.00)
Buyer Prepaid (property tax & insurance)	$1,100.00
Buyers Down Payment (3%)	($3,000.00)
Real Estate Commission (6%)		($6,000.00)
Seller Mortgage to be paid off (we'll just make up a number)		($65,000.00)
Amount of Buyers Loan	($97,000.00)
Funds due from Buyer Funds due to Seller	$5,600.00	$27,000.00

So how does this same Transaction look WITHOUT a Realtor®?

Notes	Buyer Costs	Seller Costs
This is the purchase price of the home.	$100,000.00	$100,000.00
Closing Costs Buyer/Seller	$4,500.00	($2,000.00)
Buyer Prepaid (property tax & insurance)	$1,100.00
Buyers Down Payment (3%)	($3,000.00)
Buyers Closing costs paid by seller.	($5,600.00)	($5,600.00)
Seller Mortgage to be paid off (we'll use the same number from above)		($65,000.00)
Amount of Buyers Loan	($97,000.00)
Funds due from Buyer Funds due to Seller	$0.00	$27,400.00

 

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