70% Rule Worksheet,
70% Rule Worksheet
What the 70% Rule in real estate applications mean and how the forms can be availed online
Fixing and repairs made in a house that is to be sold or bought requires the issue of the 70% Rule Worksheet and is important for all investors and both the parties to be aware of. The After Repair Value and the expenses made during the repair has to be notified so that payment can be done properly and in full disclosure of the previous and present existing value of the property.
The problems involved
The 70% Rule Worksheet form needs to be prepared properly because it deals with finances and issues that have to be notified to the parties. Thus it requires legal attention. Often you might not be able to find a good lawyer willing to do this work at a nominal pay charge. Thus your option is either to go for the lawyers and pay the expenses required or you could simply avail the benefit of online forms that are available and make use of them to carry on with the business. The best part about them is that there is no payment issue and all you need to do is download the document in whichever format you want and then use it.
Pick the right online platform
There are several platforms that provide such services, but it is necessary to be aware of the ones that are authentic and will serve the exact terms and guidelines for the worksheet. All the expenses will be listed for and includes everything from adjustment expenses to maximum allowable offers. A simple print out is all you need to have the form in your hands. Thus you need not worry about the form as it is going to come out exactly the way it needs to be.
70% Rule Worksheet
ARV (After Repair Value) $___________
(.70 x ARV)
Rehabber’s Net Purchase Price
(Line 1 – Lines 2 = Line 3)
Miscellaneous Expenses %
(___% x Line 3 = Line 4)
Rehabber’s Adjusted Purchase Price
(Line 3 – Line 4 = Line 5)
MAO (Maximum Allowable Offer)
Any flexibility in MAO will usually come from your wholesale fee. Be sure to always leave a profit for your buyer or you’ll soon find yourself out of the wholesale business.