Interactive Seller’s Closing Disclosure
When a mortgage loan is involved the Seller receives a Closing Disclosure (see below). Due to privacy concerns the Seller receives a different Closing Disclosure than the Buyer. While the Buyer’s Closing Disclosure is five (5) pages, the Seller’s Closing Disclosure is only two (2) pages long. The purpose of the Seller’s Closing Disclosure is to show the purchase price and itemize expenses. The Seller’s Closing Disclosure shows the purchase price and then a line item breakdown of every cost paid by the seller in two columns of whether it was paid before or at closing.
Below Closing Disclosure Documents
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Fees charged by Virginia to record the deed and/or mortgage. If there’s no mortgage, this field will be $0.
Sales tax charged to the Seller by the locality.
Sales tax charged to the Seller by the state.
Fee charged by our attorney to prepare the Seller’s deed.
Our fee to coordinate the release of liens. If there are no liens, this field will be $0.
Fee charged to ReQuire (a private vendor) to track that the lender has released the lien. If there is no lien, this field will be $0.
Our fee to resolve title defects, order mortgage payoffs, obtain other payoff statements, gather and prepare necessary affidavits, prepare the Closing Disclosure, cause the preparation of the Deed and coordinate the execution of all documents necessary for the Seller to transfer title.
Our fee to wire the loan payoff. If you do not have a loan, this field will be $0.
Our fee to wire your sale proceeds. If you receive a check, or do not have proceeds, this field will be $0.