Home Selling in 60629>Question Details

Glo, Home Seller in 60629

We are selling our home and scheduled to close in two days 6/12. I know the seller gets a good faith estimate if all expenses. What about the seller?

Asked by Glo, 60629 Mon Jun 10, 2013

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Congratulations , i hope you already close by now in August , and you already have a HUD
0 votes Thank Flag Link Fri Aug 2, 2013
The "good faith estimate" is a term reserved for costs related to the buyer's financing of the loan. It is a federally mandated requirement for lenders. It requires that the lender disclose all costs to be incurred by the buyer and all fees associated with the buyer's loan. The requirement really has nothing to do with the seller. I think what you are really asking is.... what am I gonna be charged to sell and what is my "bottom lin" ? For the answer to this, discuss the issue with your attorney and ask for a pro forma "closing statement" which will show you the amounts you are being charged and your final distribution. Need more information? Ask a qualified professional!

Rusty A. Payton, Broker
iMove Chicago
1225 W Morse
Chicago, Illinois 60626

773-856-6200 [Office]
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e. payton@iMoveChicago.com


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0 votes Thank Flag Link Wed Jun 12, 2013
The seller's attorney will provide the seller with a prelimary HUD with all expenses, etc.

Sohail A. Salahuddin | Founder and Team Leader

Innovative Property Consultants Group | Sales and Leasing


Jameson Sotheby’s International Realty

425 W. North Ave. | Chicago, IL 60610 

O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030

"Extraordinary Service For Extraordinary Lives"
0 votes Thank Flag Link Tue Jun 11, 2013
Ask your attorney or Title Company - they should be able to provide you with the HUD -1.
0 votes Thank Flag Link Mon Jun 10, 2013
You can check the HUD as well.
0 votes Thank Flag Link Mon Jun 10, 2013
All of it is disclosed at closing on the HUD-1 statement. Your Real Estate attorney should be able to give you an estimate within $200 based on your close date and mortgage information.
0 votes Thank Flag Link Mon Jun 10, 2013
The seller will also get a copy of it just ask your attorney.
0 votes Thank Flag Link Mon Jun 10, 2013
You can request a copy of the settlement statement from the title company -
Sam Sharp
Senior VP of Mortgage Lending
Guaranteed Rate
773 290 0455
0 votes Thank Flag Link Mon Jun 10, 2013
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