Other

TXR 1935Seller's Estimated Net Proceeds

This form provides the seller with an estimated breakdown of costs that will be deducted from the sales price at closing, resulting in an estimated net proceeds figure. It itemizes typical seller closing costs (broker fees, title policy, escrow fees, prorations, repairs, etc.), deducts them along with the estimated loan payoff from the sales price, and estimates the refunds the seller may receive after closing. The figures are estimates only and are not guaranteed; the seller initials the footer to acknowledge receipt.

Source: TXR
Form Number: 1935
Category: Other
Revised: February 1, 2018

Used For

Residential Sales, Farm & Ranch, Vacant Land

Form Outline

The TXR 1935 form is organized into the following sections:

  1. Header and Disclaimer
    Identifies the form and establishes that all figures are estimates only and not guaranteed ("The figures below are estimates. Actual costs and proceeds will vary. Estimates are not guaranteed."). Pre-printed — no blanks.
  2. Seller and Property Information
    Captures basic transaction information including the seller's name, property address, anticipated closing date, annual tax and maintenance fee amounts, and the buyer's anticipated financing which affects closing costs.
  3. Estimated Costs
    Comprehensive line-item breakdown of all estimated costs the seller will incur at closing, including professional fees, prorations, repairs, title costs, and buyer concessions, in the boxed "Estimated Costs" column. Four unlabelled lines at the bottom take any other cost. Note printed under the box: the seller may be required to pay some costs directly to the service providers before closing.
  4. Estimated Proceeds to Seller
    Calculates the seller's estimated net proceeds: Sales Price, less Estimated Costs (carried from the costs column), less Estimated Loan Payoff, less anything written on the two unlabelled lines beneath, equals Estimated Net Proceeds.
  5. After Closing Refunds
    Estimates additional money the seller may receive after closing from their existing lender, including refunds of unused insurance premiums and the balance of the escrow/impound account, plus two unlabelled lines for other refunds.
  6. Prepared By and Seller Acknowledgment
    Identifies who prepared the estimate ("Prepared by: ____" — a name line, not a signature) and the footer "Seller's Initials to acknowledge receipt: ____, ____" — initial tabs placed for the seller(s) when the form is sent.

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