Funds for Borr shows a Negative Amt on Purchase

Posted By: Tarhe

Funds for Borr shows a Negative Amt on Purchase - 04/08/21 06:08 PM

We are doing a 2-year "purchase"land loan on Laser Pro. Loan Amount is $512,000. "Funds for Borrower" and "Estimated Cash to Close" are both showing a negative of $500,748. I know that Funds for Borrower should be shown as $0 for a purchase transaction. But we're not seeing how to fix this. Any Laser Pro users that might know what we're doing wrong? (It's been a couple of years since the last time we had a non-mortgage transaction which we do on a different program.) Thank you!
Posted By: Oursisnottoreasonwhy

Re: Funds for Borr shows a Negative Amt on Purchase - 04/08/21 06:32 PM

On the screen right after property taxes under letter K you need to enter the sales price of the property. Summaries of Transaction - Borrower/Calculating Cash to Close Screen
Posted By: Tarhe

Re: Funds for Borr shows a Negative Amt on Purchase - 04/08/21 06:34 PM

Awesome! Thank you!!