Closing Statement, HUH? Do I need that? - Posted by Robjan

Posted by JPiper on December 12, 1999 at 09:41:13:

Of course you need a closing statement. How else will anyone know how to distribute the money to you, or how much money the buyer needs to close with?

Matter of fact, since you have a title company and attorney involved…why on earth are you preparing documents? That’s what title companies and lawyers do for their fees.

Will the lack of a closing statement be a problem come Monday? I would say yes…chances are the title company will not be able to do the closing statement that quickly. Call them immediately Monday morning and let them do their job. With any luck though, maybe the title company already prepared one from your written contract.


Closing Statement, HUH? Do I need that? - Posted by Robjan

Posted by Robjan on December 11, 1999 at 22:31:00:

Monday we will close on our first deal, long time coming! We bought low, sold high. Heres the question. We did all the paperwork ourselves, bill of sale, affidavit of title,warranty deed and transfer declaration. I gave this all to the title company already because we won’t be at the closing. Also sent copies to the buyers attorney for review.The attorney called and said he did not receive a closing statement from us. Other than the charges the title company has down for us we have no other charges. Do we need to prepare a closing statement? How do we do that? What goes in there? Is it to late? Is this what the buyer uses to determine how much money he needs to bring at closing? I don’t want to have any problems Monday morning or any glitches to delay this closing any more than it already has. Please advise. Thank you.