Seller Contribution

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  • #64913
    tlthom76
    Participant

    @nelsont

    @ttrumble

    I have a question that I am a little scared to ask but here it goes.

    I received my closing disclosure today that has a “tentative” closing date, I do understand these numbers are not final, however, when I signed the contract, the seller stated they would contribute $4200 towards my buy down. When/where will that be listed on my closing docs? Will that be listed on the FINAL docs? Also, the sellers are providing a $300 credit towards my home warranty, how does that work in terms of the final docs?

    T.

    #64915
    Nelsont
    Member

    It won’t. Anything from the bank will have total numbers. They don’t care where it comes from just that they get it. So your CD will only list money owed. Your title company will provide a closing binder the day of closing or possibly the day before…it’s once the paperwork is drawn up which can’t be done until the bank sends the info over which may be a day or two prior. The binder will break every single thing out.

    #64924
    Peapod0609
    Member

    Yeah, you won’t have final numbers until you get your final closing disclosure. Mine came at 7:30 p.m. the night before closing, I believe @Nelsont stated his was the night before as well. That’s just how it happens, sometimes.

    If it is not listed on the final disclosure you get is when I would bring it up, because before that point the numbers are going to change a lot anyway.

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