You are buying a house or condo in Fort Myers, Cape Coral, or Bonita Beach Florida, and you are wondering; “what will I be signing at closing table?” I mean the real estate process is scary and then even more intimidating when getting a loan, it all boils down to the “closing table.” Here is a quick reference list of things you will sign at closing…(the mortgage is the largest part, usually 30+ pages..Yikes)
– Final HUD-1 settlement statement
– Buyer/borrower affidavit
– Compliance agreement, et. al – this is two pages in and includes statements pertaining to a compliance agreement, tax proration (discusses what was used to prorate the HUD, some information about proration, and then includes a table for the buyer and seller to use to determine if a reproration is in order once the tax bills are released), a notice of reissue informing the buyer that they can obtain a reissue rate credit within 3 years if they resell or obtain a mortgage, and then there are miscellaneous items such as HOA information, disbursement information, and explains who is responsible for what prior to and after closing (i.e. utilities).
– Mortgage Documents
If you ever have any questions about buying a property or even need a preliminary HUD (which I find helps so many people these days when deciding whether to make or accept an offer) please do not hesitate to contact me. I handle residential, commercial, cash/financed, FIRPTA, 1031, short sales, and all sorts of other real estate transactions. After all that is why I am called the HOUSEGUY, your Fort Myers Realtor.