Ok I haven't done many transactions.

OK Well that is fact.I dont know what I did with the rest of question. lol

Is is normal practice for the broker to want to fill the term sheet out or do agents normally fill them out?

What's a "term sheet"???

Its a break down of the contract on who pays for what (i.e. inspections, warranty,commisions etc...). The escrow company usually gives it to you around closing time.

That is a Hud-1 draft or Closing Cost Net Sheet.

and YES it is normal and should be mandatory for any agent to make one up and have signed by the buyer so they understand what the estimated actual cost to them will be. Most are clearly labeled as Draft or Estimate because some information will not be available until a firm closing date has been set and all the buyer and seller cost are better identified.

Many / most of the information should be available or easily estimated. What you Do Not want to occur is to have your buyers show up at closing and find they have $10,000 worth of closing cost they didn't expect.

If you're talking about a HUD 1 form, commonly called a closing statement; the title or escrow company prepares that form.

If you're talking about a seller's net sheet where the listing agent estimates the net proceeds a seller will get after all selling expenses are paid, i.e. commissions, inspections, ete., then that would be prepared by either the listing agent or his broker.

Hello
Its not a HUD. Its a form that the escrow company gives to both agents to state what each side has agreed to pay for (inspections, escrow fees, credits, commisions)according to the contract.They compare them and make sure each party is in agreement. I hope that better explains.
Thank you for your reply.

That could be an internal form from the escrow company.

I usually give them the commision rate, any charges for my client's side, client contact numbers, and that sort of thing when I fax them a copy of the sales contract and property brief.

The title company I use most faxes me a HUD 1 settlement statement before the closing, if not the day before then a few hours before, so I can review it and make sure it's correct.