The Home Buying Process:
Step # 7. Reviewing Final Details.
After all contingencies are clear, you will have an opportunity to review the final numbers of the transaction to avoid any surprises. You will receive lots of documents with all the details of the transaction and all the numbers involved.
The third page of the closing disclosure document stands out as it contains a summary of the transaction.
First, it will show all the money due from you at closing. This will include the purchase price agreed, the closing cost and any adjustments for items paid by the seller in advance like taxes or HOA.
Second, it will show all the money already paid by you or on your behalf at closing. This includes the Earnest Money Deposit, the approved loan amount and any seller credit previously agreed.
And last but not least, it will show the difference between the money needed and the money already obtained or provided before closing. This is the amount of money that you will need to bring with you to closing. Depending on the amount, you will be asked to bring a cashier check or wire the funds directly to the title company.
So, whenever you are ready to get started with your journey, just give us a call or send us a quick message to schedule a Free buyers consultation meeting. We’d love to have an opportunity to be of service to you.