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Real Estate Math

Real Estate Math Formulas

QuestionAnswer
What is the formula for figuring out what to list a property Net to Seller? Example: $200,000.00/.94(6%)or .93(7%)=Listing Price. This will give a list price to market the property at since Net to Seller is not legal in most states.
How do you figure Property tax and insurance proration? Take the annual property tax or insurance amount and divide it by the number of days in the year(365). Then figure out how many days that have come before or after the closing date, based on if you are the buyer or seller. Multiply the days X daily rate.
How do you Prorate Accrued Interest? Loan Balance x Rate of Interest = Annual Interest Annual Interest / 360 = Daily Interest x Number of Days Owed = Amount owed to lender at time of closing.
How do you Prorate Rent? Rent Amount / Number of days in month it was received x Days up to and including day of closing. Seller receives rent for day of closing.
How do you calculate the Georgia Transfer Tax? Sales Price (Minus Assumed Loan if any) / 100 and rounded up to the nearest whole number (if necessary) x Ten Cents (.10). Ex. 200,000/100(Now round up the nearest whole number, if necessary)x.10=
How do you calculate the Intangibles Tax? New loan amount (Round Down to Nearest Whole 100 Number) / 500, then round up to the next whole number = Taxable Amount then Taxable Amount x 1.50 = Intangible Tax Amount.
How do you calculate PMI? First off, PMI is different with a 90% and 95% LTV and only pertains to Conventional FHA insured loans. Sales price x .90(or .95) = Loan Amount x .02(or .025)= PMI
Created by: JodyL19
 

 



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