|
Hud Real Estate Commision Calculator |
  
|
|
Hud Real Estate Commision Calculator |
|
Overview
The Real Estate Commission Calculator is used to calculate real estate agent commissions for the HUD Settlement Statement.
Getting There
The Real Estate Commission Calculator can be accessed by clicking on “RE-Agent Commission Calculator” located above line 701 on the HUD or by using the CTRL+R shortcut on page 2 of the HUD in Turbo Escrow.
Values calculated on the commission calculator form can be transferred to the on-screen HUD by clicking save. However, They are used for calculation purposes only and will not be displayed on the printed version of the HUD.
Field Definitions
Salesprice |
Sales price as entered in the order setup |
Concessions |
A concession amount which can be entered to alter the salesprice used as the basis to calculate commissions.
|
Commission percent |
Total commission percentage |
Selling Agent . |
Agent listed in the HUD 701 “to” box if entered. If no agent listed on 701, Selling Agent from order setup > "parties" is entered |
Listing Agent |
Agent listed in the HUD 702 “to” box if entered. If no agent listed on 702, Listing Agent from order setup > "parties" is entered. |
Selling Agent commission percent |
Percentage of total commission allocated to the selling agent. Can be entered as a percentage of the total (10% - 100%) or as percentage “points”. (1 - 9). The Listing Agent commission percent is adjusted automatically and will be the difference between the total commission percentage and what is allocated to the Selling Agent. |
Add Commission |
Additional commission is added to the total commission for the specified agent (Selling/Listing). Not shown separately on the HUD. |
Save Button - Saves the values for total commission and selling/listing agents names to lines 701 and 702 on page 2 of the HUD.
NOTE: Changes can be manually made to lines 701 and 702 of the HUD both before and after the Real Estate Commission Calculator is used.