Nathan Payne walks through a seller call to explain how $50,000 in net proceeds gets split after attorney fees, commissions, title costs, and dividing among co-owners. He uses the HUD statement to show exact figures and walks the seller through what happens next.
If you want to know how to explain to a seller exactly how the breakdown works after you did an Ovation or you brought their property to the MLS and you found another buyer, check out this call that I just had with a seller. She wanted to know what she was getting. I said, hey, what we agreed on is exactly what you're gonna get, $50,000. And, um, you know, plus obviously we marked it up a little bit. We're gonna pay commissions, fees, and all that stuff. But check out how I did it, see what you think. Give me a thumbs up, thumbs down if you think I did good, if you think I did bad. But anyway, check it out. So I wanted to call you. So you asked what— just what you were— what we agreed on. I just—
right.
Yeah. So $50,000 is what we agreed on when we signed the agreement with you. Yeah.
And that's— we went down from $60,000 to $50,000. But then you guys are going to cover out of the $50,000, you're going to cover the taxes, property taxes, and you're going to pay off the lawyer and the certain fee that he's asking for, correct?
Yeah, so what we're taking care of is the attorney fees that, you know, we agreed on, the commissions, because we did bring in an agent to help us bring it to the market and find a buyer that was willing to partner with us, their commission and closing costs on our end for, you know, doing closing the deal like title fees and stuff like that.
Do you know what all that's going to come out to?
Yeah, I think, uh, well, it's on the HUD statement. I don't know if, uh, what's her, uh, I think it's Kristen, right?
Yeah, we haven't— he's always been waiting for you guys and she's always been calling for us.
Yeah. And I think the reason why that is is because she wants to just, before we do all that, um, want to have everyone sign so it's actually like good to go forward, you know?
No, I understand.
Yeah. But yeah, I would just ask her once, um, because I also want to make sure everything's right before I speak and, you know, there's something else like another fee thrown in there. But the way that it worked for us is, you know, I wanted to get you guys more. And for us, like, after like 2 years of this, like, we're really— after cleaning it out and paying $1,000, we're like really not making like anything on this. So, you know, unfortunately it wasn't as juicy for, I would say, for everybody. I think everybody wanted a little bit more. But yeah, so I think pretty much at this point we're just You signed, we signed, and then the buyer, we're just waiting for them to sign the little documents. And I think she'll call and just say, hey, this is after the 50, this is like exactly what everybody, the splits are, because I think you're splitting it with, you know, 6 people, I believe.
4.
Okay, cool.
But yeah, no worries. I just want to make sure because I was looking for emails and it was like, yeah, we're like, we can do 40. I'm like, no. And you said, well, let's put on the market. So then I wanted to make sure it wasn't 40 because you're right.
Yeah. Exactly. Yeah.
Great. All right, well then just keep us in the loop.
Well, hey, it's good hearing from you. I'm so sorry, like, I know this has been longer than anybody's wanted, but you know, it's— we're patient people, not a big deal. Hey, that's what, that's what I've learned through working with you, you know, you're very patient and, you know, it's taught me to be patient too, so it's been nice.
Yes. All right, you take it easy then, sir.
Yep. Okay, well, hey, um, it's good chatting with you. I hope you have a great rest of the day and a great weekend. Okay.
Okay, you too. Bye-bye.
See you. Bye. And by the way, if you like this video, smash that like button so more people can see it, and we'll get you more content like this where we show you exactly how to do it step by step.
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