Glad I could help. Thanks for the feedback. Post back with more questions as
you get this figured out. Real estate transactions and 401ks are the two
most complicated things most people ever record in Money.

"agrag" <anonymous[at]discussions.microsoft.com> wrote in message
news:1850501c44b21$123c6b50$a601280a[at]phx.gbl...
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Thanks, that helps.
agrag
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One addendum to the FAQ for the case of a purchase. Once all of the cash
inflow/outflow is accounted for as noted in the settlement sheet, you should
also create an Asset Account to represent the value of the property you now
own. Note that the Asset Account is associated with the mortgage(s) you gave
to get loans for the property. The contribution to net worth is the value of
the property (typically purchase price) less the loans.

"agrag" <anonymous[at]discussions.microsoft.com> wrote in message
news:1881a01c44a96$6d5a22b0$a101280a[at]phx.gbl...
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Closing costs are probably best treated as some kind of expense category.

Yes, I'd say.

That would work as would just a (several) monster transaction(s)
representing the activity of the escrow account as depicted on the
settlement sheet.

See http://umpmfaq.info/faqfb.php?q=86 and extrapolate to the case of a
purchase from the case of a refinance.

"agrag" <anonymous[at]discussions.microsoft.com> wrote in message
news:1881a01c44a96$6d5a22b0$a101280a[at]phx.gbl...
- quote -

All,

Using: Money 2003
Made a house purchase.

How did you handle:
The closing costs, what account did you use/call it? It's
a straight expense, yeah?

Escrow: Create an escrow account and transfer that
towards your houses' asset account?

Any other things you did would help. thanks!
agrag