your initial contact with the closing officer, request an estimated
closing statement based strictly on your known closing costs at
that time and assuming the deal closes as scheduled. This statement
obviously won't be precise. Factors such as whether you'll have
to give the buyers a credit for repairs and if so, how much, have
yet to be determined. No matter. At least you'll get an approximation
of your expenses of sale and have a rough idea about the amount
of money you may need to spend on your next home.
the estimated closing statement updated a week before scheduled
closing. At this point, very few questions should remain. Check
your second estimated closing statement extremely carefully, line
by line from top to bottom, to be absolutely certain that it accurately
reflects your credits and debits.
officers are human. They sometimes make mistakes. So do other parties
in the transaction who may inadvertently give the closing officer
incorrect information. And when mistakes are found, whose favor
do you think they are in? Probably not yours! Your money is on the
table. Pay attention to details. Review the closing statement and
question any portion that isn't clear or correct.
Next Step: Final Closing Statement
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