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#9
07-23-2005, 01:17 PM
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 Re: How do I handle Real Estate agents refunds? I have an asset account called Closing Costs. I enter all transactions from the HUD-1 form into it for that very reason. -- "Andrew" <noemail[at]noemail.com> wrote in message news:wycEe.18799$Eo.15028[at]fed1read04... - quote - > Your reply got me to thinking. Did you enter a line by line transaction > for your closing costs in Money? I was going to group it as closing > costs, but maybe I shouldn't for tax purposes. > "Richard Bollar" <bollar[at]bollar.org> wrote in message > news:u%23UktckjFHA.3332[at]TK2MSFTNGP10.phx.gbl... > > If you had any expenses at all in the purchase, credit it against > > those -- perhaps an inspection, loan application fee. If not, credit it > > to any expense category that makes you comfortable -- like a > > miscellaneous expense category. > > > -- > > > "Andrew" <noemail[at]noemail.com> wrote in message > > news:emVDe.18581$Eo.8714[at]fed1read04... > > > I'm a buyer and there is no commission out of my pocket using i-Nest. > > > It's just dollars into my pocket that I need to track. > > > > > > > "Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in > > > message news:%23If9JmfjFHA.2852[at]TK2MSFTNGP15.phx.gbl... > > > > Duh. Yah. I was reading as buyer not seller. As seller, I'd agree with > > > > Richard Bollar. Reduce whatever you expensed the original commission > > > > as. > > > > > > > "Andrew" <noemail[at]noemail.com> wrote in message > > > > news:lqIDe.18536$Eo.13496[at]fed1read04... > > > > > My wife and I will be closing on a house soon and we used a company > > > > > that > > > > > offers 1% cash back of the sales price. > > > > > > > > > How would I record that in Money? Suggestions? > > > > > > > > > > > > > > > > > > > > |
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#8
07-22-2005, 11:12 PM
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| Re: How do I handle Real Estate agents refunds? I would enter it line-by-line; I'm not sure why besides I'm anal and the data might come in handy at some point in the future. See the FAQs about refi and buying a house at http://umpmfaq.info/faqdb.php?cat=23. "Andrew" <noemail[at]noemail.com> wrote in message news:wycEe.18799$Eo.15028[at]fed1read04... - quote - > Your reply got me to thinking. Did you enter a line by line transaction > for your closing costs in Money? I was going to group it as closing > costs, but maybe I shouldn't for tax purposes. |
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#7
07-22-2005, 08:20 PM
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| Re: How do I handle Real Estate agents refunds? Your reply got me to thinking. Did you enter a line by line transaction for your closing costs in Money? I was going to group it as closing costs, but maybe I shouldn't for tax purposes. "Richard Bollar" <bollar[at]bollar.org> wrote in message news:u%23UktckjFHA.3332[at]TK2MSFTNGP10.phx.gbl... - quote - > If you had any expenses at all in the purchase, credit it against those -- > perhaps an inspection, loan application fee. If not, credit it to any > expense category that makes you comfortable -- like a miscellaneous > expense category. > -- > "Andrew" <noemail[at]noemail.com> wrote in message > news:emVDe.18581$Eo.8714[at]fed1read04... > > I'm a buyer and there is no commission out of my pocket using i-Nest. > > It's just dollars into my pocket that I need to track. > > > > "Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in > > message news:%23If9JmfjFHA.2852[at]TK2MSFTNGP15.phx.gbl... > > > Duh. Yah. I was reading as buyer not seller. As seller, I'd agree with > > > Richard Bollar. Reduce whatever you expensed the original commission as. > > > > > "Andrew" <noemail[at]noemail.com> wrote in message > > > news:lqIDe.18536$Eo.13496[at]fed1read04... > > > > My wife and I will be closing on a house soon and we used a company > > > > that > > > > offers 1% cash back of the sales price. > > > > > > > How would I record that in Money? Suggestions? > > > > > > > > > > > > |
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#6
07-22-2005, 03:54 AM
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| Re: How do I handle Real Estate agents refunds? Thank you folks. Great ideas here. "Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in message news:uQiXp1ljFHA.572[at]TK2MSFTNGP15.phx.gbl... - quote - > Personally, then, I'd reduce the amount in the asset account by this > amount. > "Andrew" <noemail[at]noemail.com> wrote in message > news:emVDe.18581$Eo.8714[at]fed1read04... > > I'm a buyer and there is no commission out of my pocket using i-Nest. > > It's just dollars into my pocket that I need to track. |
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#5
07-22-2005, 01:33 AM
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| Re: How do I handle Real Estate agents refunds? Personally, then, I'd reduce the amount in the asset account by this amount. "Andrew" <noemail[at]noemail.com> wrote in message news:emVDe.18581$Eo.8714[at]fed1read04... - quote - > I'm a buyer and there is no commission out of my pocket using i-Nest. > It's just dollars into my pocket that I need to track. |
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#4
07-21-2005, 10:54 PM
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| Re: How do I handle Real Estate agents refunds? If you had any expenses at all in the purchase, credit it against those -- perhaps an inspection, loan application fee. If not, credit it to any expense category that makes you comfortable -- like a miscellaneous expense category. -- "Andrew" <noemail[at]noemail.com> wrote in message news:emVDe.18581$Eo.8714[at]fed1read04... - quote - > I'm a buyer and there is no commission out of my pocket using i-Nest. > It's just dollars into my pocket that I need to track. > "Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in > message news:%23If9JmfjFHA.2852[at]TK2MSFTNGP15.phx.gbl... > > Duh. Yah. I was reading as buyer not seller. As seller, I'd agree with > > Richard Bollar. Reduce whatever you expensed the original commission as. > > > "Andrew" <noemail[at]noemail.com> wrote in message > > news:lqIDe.18536$Eo.13496[at]fed1read04... > > > My wife and I will be closing on a house soon and we used a company that > > > offers 1% cash back of the sales price. > > > > > How would I record that in Money? Suggestions? > > > > > > |
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#3
07-21-2005, 10:30 PM
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| Re: How do I handle Real Estate agents refunds? I'm a buyer and there is no commission out of my pocket using i-Nest. It's just dollars into my pocket that I need to track. "Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in message news:%23If9JmfjFHA.2852[at]TK2MSFTNGP15.phx.gbl... - quote - > Duh. Yah. I was reading as buyer not seller. As seller, I'd agree with > Richard Bollar. Reduce whatever you expensed the original commission as. > "Andrew" <noemail[at]noemail.com> wrote in message > news:lqIDe.18536$Eo.13496[at]fed1read04... > > My wife and I will be closing on a house soon and we used a company that > > offers 1% cash back of the sales price. > > > How would I record that in Money? Suggestions? > > |
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#2
07-21-2005, 01:38 PM
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| Re: How do I handle Real Estate agents refunds? Duh. Yah. I was reading as buyer not seller. As seller, I'd agree with Richard Bollar. Reduce whatever you expensed the original commission as. "Andrew" <noemail[at]noemail.com> wrote in message news:lqIDe.18536$Eo.13496[at]fed1read04... - quote - > My wife and I will be closing on a house soon and we used a company that > offers 1% cash back of the sales price. > How would I record that in Money? Suggestions? |
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#1
07-21-2005, 12:21 PM
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| Re: How do I handle Real Estate agents refunds? Sounds like it would reduce the asset value. If it's in the closing settlement, just transfer less to the asset. If it is outside that, just transfer the money back to the account you deposit the check in. "Andrew" <noemail[at]noemail.com> wrote in message news:lqIDe.18536$Eo.13496[at]fed1read04... - quote - > My wife and I will be closing on a house soon and we used a company that > offers 1% cash back of the sales price. > How would I record that in Money? Suggestions? |
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07-21-2005, 12:19 PM
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| Re: How do I handle Real Estate agents refunds? It depends on how much detail you're showing of the closing costs in Money. But in short, I would show it as a credit to wherever you charged the original commissions. -- "Andrew" <noemail[at]noemail.com> wrote in message news:lqIDe.18536$Eo.13496[at]fed1read04... - quote - > My wife and I will be closing on a house soon and we used a company that > offers 1% cash back of the sales price. > How would I record that in Money? Suggestions? |
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#-1
07-21-2005, 07:47 AM
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| How do I handle Real Estate agents refunds? My wife and I will be closing on a house soon and we used a company that offers 1% cash back of the sales price. How would I record that in Money? Suggestions? |
| Tags |
| agents, estate, handle, real, refunds |
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