Settling on the home sale
Requests from an editor and a Wonk reader to cover the settlement process turned into this story about closing the deal, in case you missed it and are interested. Experts weigh in with tips for avoiding problems, including this one from Brian Sullivan of the U.S. Department of Housing and Urban Development:
Get your HUD-1 settlement statement from the company handling your closing - in Maryland, your title agent - 24 hours before you're scheduled to settle. That form lists your bottom-line costs. Buyers especially will want to look closely to make sure the loan origination and other fees match earlier expectations."As best as you can, get your good-faith estimate that you were provided at the beginning of the process and compare the line items," Sullivan said. "You shouldn't be doing this math at the closing table. And if you've got questions, challenge these costs so that they can adjust them."
