real estate closings: FOR HOME SELLERS AND BUYERS, NEW SETTLEMENT RULES COULD DELAY REAL ESTATE CLOSINGS!
- 03/13/16 07:37 AM
NEW REAL ESTATE SETTLEMENT RULES - PRE-CLOSING REVIEW OF CLOSING COSTS MADE MORE DIFFICULT FOR REAL ESTATE BROKERS REPRESENTING SELLERS, BUYERS! For our Clients here in Chicago and Nearby, our Team routinely verifies our Client’s Closing Documents prior to the closing of their transaction to make sure the Closing Cost Items are calculated properly – and not too high! With the changes to Real Estate Settlement Procedures last year under new TRID (TILA-RESPA Integrated Disclosure) Rules, some Lenders, Title Companies, and Settlement Agents will not forward final Closing Disclosures to Brokers here. Indeed, such a change could potentially delay closings – any calculation errors in Fees, Broker’s Commission, Tax Proration, and Seller Concessions must be corrected … (2 comments)
NEW REAL ESTATE SETTLEMENT RULES - PRE-CLOSING REVIEW OF CLOSING COSTS MADE MORE DIFFICULT FOR REAL ESTATE BROKERS REPRESENTING SELLERS, BUYERS!
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