Real Estate Closings

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I wanted to talk about real estate closings today, in particular when you’re selling a house. There are so many documents and they’re so tough to follow. However, you really want to follow them.

Let me tell you what happened to me a couple years ago when we sold our house. We were getting some money back for the sale and the title company person said “how do you want your check? Wire transfer or overnight mail?” I asked what the charges were and she said $25 for wire transfer and $20 for overnight. I then asked her to send for $.50 via U.S. mail. She said okay. However, I looked at the closing statement where all of the charges appear and guess which box was checked? Both of them. Wire transfer and overnight mail were checked, which is $45 that the title company didn’t deserve. The lender didn’t deserve it either. These are the sorts of things you need to look for. I had her uncheck the boxes and we got to keep the money.

You’ve got to read your documents. Read your closing statement – it’s important! If you can’t figure it out, hire a real estate lawyer. They are great at this stuff and do it all the time.

I hope this helps you save and protect your money because you know what, if you don’t do it for yourself, who’s going to?

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