What are the details of the MAO worksheet
The Rental Property Mao Worksheet gives details of the address of the property, the annual rental value which is got from the comps, the CMAs as well as other tools which are used for appraisals. It consists of the costs which are incurred to get in as well as out of the property. The costs are further broken down into the buying cost which amounts to 3%, the carrying cost as well as closing costs which are considered as 3% each, the margin of error which is 1%, the equity of profit which is 20%. The total of the costs comes to 30%. The Rental Property Mao Worksheet lists the estimated repairs and in order to calculate that, the rehab worksheet is to be given so that the initial cost and estimate is arrived at. The MAO also contains the maximum allowable offer which means that the maximum which can be paid by you and that you are not to leave any of the money after refinancing. This ofcourse is not a requirement for the deal but it is what is acceptable to leave in and that is dependent on the cash flow of the person as well as the financial ability of the person too.
The starting MAO number is obtained by reducing 15% from the MAO. This is the starting point for the negotiations and if no counter offers are received for the starting MAO then it needs to be increased. The market conditions impact the starting MAO.
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