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Closing or Settlement >The Settlement
The final stage of a home sale transaction is the time to tie up all the loose ends. The buyer and seller will sign the settlement sheet at the closing, detailing all of the charges that each party has incurred during the sale of the house. It is crucial to go over the sheet for accuracy and to make sure that you understand everything on it before you complete the transaction.
When a contract is negotiated, each side agrees how to divide the loan fees (or points), as well as the other closing charges, such as state or local taxes or escrow fees. Your real estate agent can go over the settlement sheet and help you compare it with your purchase agreement. The seller's charges usually include the brokerage fee, the mortgage payoff, and any charges involved in clearing the title, as well as pro-rated property taxes, payments for termite treatment and escrow for repairs that could not be completed by closing. The buyer's costs include charges for the loan and title searches, insurance and any other legal fees. A good closing officer will go over the settlement sheet line by line, explaining each item and correcting any misplaced charges.
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| Q |
What real estate board game became the best-selling game in America just one year after it was created?
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| A |
Charles B. Darrow invented Monopoly in 1934, to cheer himself up while unemployed during the Great Depression. Monopoly is now the most popular board game in the world and has sold over 200 million copies. |
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Andrew Malone RE/MAX of Buckhead 4246 Peachtree Rd Altanta, GA 30319 Cell: 404.246.3265 Office: 404.237.9011 E-fax: 800.385.1350 Fax: 404.237.3631 Email: andrewmalone@NUMBER1EXPERT.com Email: amalone@remax.net
I am a Cum Laude graduate from Georgia State University with a degree in Finance and Marketing. I began my real estate career after graduating from college at the age of 23. I have been an individual practitioner in real estate for 6 years with RE/MAX of Buckhead in Atlanta, Georgia. My successes include: Average 30 home sales/year, Over 150 homes sold, Presidents club –1 year, 100% club – 3 years, Platinum club – 1 year, Top New Agent 2004, #2 Agent in office 2006,
#1 Agent in office 2007, 6.2 million closed transactions 2006, 4.4 million closed transactions 2007, Real Estate Lifestyle Magazine – Rising Real Estate Star 2007.     
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