qbteachmt
Level 15

This is Net, not gross: "or what each owner actually received in their bank account ($230,000)."

Look at those details and think about, "If my client got the Entire amount of the sale, then had to pay off these things to be free and clear of this property" they end up with Net to Bank.

Gross is Sale price + anything that was included as if your client paid it directly.

Examples of Net increased to Gross: a refund of HOA fees paid in advance and taxes credited to your client for being paid to the date in advance of when the buyer takes over.

Examples of incurred costs that reduced Gross to Net: Commission to selling broker/agent, fees past due, taxes and HOA fees from whatever prior date to closing date that are technically owed by your seller.

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