By Lydia Blair
There are hundreds of mobile apps specifically focusing on real estate. Most are aimed at potential home buyers and sellers. Apps like Realtor.com, RealScout, and Homesnap help consumers search for properties for sale. Other apps provide neighborhood and property data like RPR Mobile and AreaPulse. Updater is an app that helps track moving tasks.
Then there are apps aimed at helping Realtors with their business. Many agents and brokerages use BackAgent, Skyslope and similar transaction management apps to help stay organized. Docusign is a popular app that gets signatures from clients on the go. Staging apps like PlanOmatic and Hutch help with marketing a property. Roomscan lets agents measure and record floor plans. The list goes on.
And there are also apps provided by title companies. Most of these are aimed at helping Realtors determine closing costs for a particular property. The really good apps allow agents to run an estimated net sheet for their clients.
A net sheet shows closing costs and title fees for a transaction. A seller’s net sheet lets them know how much they will walk away with at closing. This can be very helpful when comparing multiple offers or negotiating terms of a contract like closing date or who pays for what.
A buyer’s net sheet allows a buyer to get an estimate of their total monthly payment for a particular property in addition to how much they will need to bring to closing. In order to obtain an estimated net sheet, either party will need to know the sales price, closing date, and other terms of the contract.
One of the easiest and most popular apps for determining closing costs is run by PalmAgent. It is branded under different title company names and several area title companies offer it free to agents. This app is found via fidelityagent.com, chicagoagent.com, carlisleagent.com, lawyersagent.com, etc.
While the basic app is free from these companies, a premium version is available for less than $15. With that one-time purchase, agents can calculate renting vs. buying figures, monthly affordability, market trends, and more.
Naturally, these calculations are only estimates. For more exact figures on closing costs, contact your favorite title agent. But if you’re on the go and want a quick idea of the cost to buy or sell, these apps are a handy tool.
The opinions expressed are of the individual author for informational purposes only and not for the purpose of providing legal advice. Contact an attorney to obtain advice for any particular issue or problem.
Lydia Blair (formerly Lydia Player) was a successful Realtor for 10 years before jumping to the title side of the business in 2015. Prior to selling real estate, she bought, remodeled and sold homes (before house flipping was an expression). She’s been through the real estate closing process countless times as either a buyer, a seller, a Realtor, and an Escrow Officer. As an Escrow Officer for Carlisle Title, she likes solving problems and cutting through red tape. The most fun part of her job is handing people keys or a check.