G-DAY ALL,
received ID today & trialing, require some help understanding the SUMMARY information at bottom LH corner.1, purchase price: $89000
20% deposit: $17800
loan: $71200
closing cost: $10139.80(placed in OTHER BORRING COST box of CLOSING COST section)(ID adds loan & closing cost at bottom = $81339.80
Q,
Why (in SUMMARY section) does the purchase price ($89000) & closing cost ($81339.80)get added together giving a NET PURCHASE PRICE = $170339.80.What is the NET PURCHASE PRICE indicating
Should it be?, Deposit 20%: $17800 + loan $71200 + closing cost $10139.80 = $99139.80 (as indicated in summary section as CASH NEEDED)
your help will be most appreciated
Wille
KNOWLEDGE IS POWER
Wille
Hi Wille
The figures here do not quite add up, if you have a cash needed figure of 99139.80 then you have entered the deposit and balance as cash options, but you say you have a loan of 71200 (the balance), this could only be if you have entered that amount in the closing costs as well and allocated it to loan. It looks like the balance has been double entered into the closing costs?
The total closing costs should only be 10139.80, if you still have a problem, set up your property and take a screen shot and send it to me and I will try to replicate your issue.
Regards
Philip Batey
JATPAC DesignsAuthor of Investment Detective
Pbatey,
Thanks, I have finger issues / nil typing skillsWille
KNOWLEDGE IS POWER
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