Easily Remove Cross in the Settlement Statement

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How to Remove Cross in the Settlement Statement

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when it comes to wholesaling and flipping when you do a deal on the day of closing the title company that is handling the closing transaction is going to provide buyer and seller a closing statement and it breaks down all of the numbers now understanding that closing statement is really important so on todays video using actual closing statements get ready to learn how to read a closing statement coming up [Music] this video is brought to you by 10k club a program that pays you ten thousand dollars for finding ugly houses learn more at my10kcheck.com if youre new here to this channel im jerry norton with flippingmaster.com and this channel is all about ways to help you make money wholesaling and flipping real estate so you can live your dream life be sure to subscribe and turn on the bell notifications so you dont miss new videos when a real estate transaction happens and the property changes hands from the seller to the buyer this is referred to as a real estate closing and there

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What two actions occur at a real estate closing settlement?

At closing: the money for the property is paid, the buyer signs the closing documents and releases the money; the seller signs the deed legally transferring the property to the buyer; the buyer receives title insurance guaranteeing the validity of the title on the property.

What are two things RESPA prohibits?

RESPA Section 8(b) prohibits unearned fee arrangements in connection with federally related mortgage loans. RESPA Section 8(b) prohibits the giving and accepting of any portion, split, or percentage of charges made or received for real estate settlement service business, unless for services actually performed.

What is Section 6 of the Real Estate Settlement Procedures Act RESPA?

Section 6 of RESPA provides borrowers with consumer protections relating to the servicing of their loans. If a borrower sends a qualified written request to his loan servicer concerning the servicing of the loan, the servicer must provide a written acknowledgment within 20 business days of receipt of the request.

Who is responsible for the accuracy of the closing documents?

(d) If closing documents and statements are prepared by, and the closing is conducted by, an employing brokers company such broker is primarily responsible for the accuracy and completeness of the settlement statements and documents.

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Remove Cross in the Settlement Statement