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Example real estate brokerage Some closing fees pay for third-party services your lender requires.

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The CFPB suggests comparing the “Services Borrower Did Not Shop For” section with Sections B and C on page 2 of your Loan Estimate. The costs should be similar, but may be somewhat different.

What it asks you to check: that no new services appear that were missing from your Loan Estimate.

One more tool: the CFPB offers a sample Closing Disclosure you can download and print, so you can see where information sits on your own form.

#closingdisclosure #homebuying

  1. Example real estate brokerage · Sample1/3

    Your Closing Disclosure has a section called “Services Borrower Did Not Shop For.” These are third-party services your lender requires to give you the loan. The CFPB says to check them against your Loan Estimate.

    The closing fees you never picked
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  1. Example real estate brokerage · Sample2/3

    Where to look: Sections B and C on page 2 of your Loan Estimate. The CFPB says costs should be similar but may be somewhat different. The thing to check is whether any new services appear.

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  2. Example real estate brokerage · Sample3/3

    By law, you get the Closing Disclosure at least three business days before closing. Read your contact details too: the CFPB warns even minor misspellings can cause big problems later. #closingdisclosure.

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Example real estate brokerage

Sample · not published

The fees you did not choose still belong on your checklist.

…see moresee less

Some closing fees pay for third-party services your lender requires.

The CFPB suggests comparing the “Services Borrower Did Not Shop For” section with Sections B and C on page 2 of your Loan Estimate. The costs should be similar, but may be somewhat different.

What it asks you to check: that no new services appear that were missing from your Loan Estimate.

When you review closing paperwork, what do you check first: the names or the numbers?

The closing fees you never picked
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Example real estate brokerage

Sample · not published

The fees you did not choose still belong on your checklist.

…see moresee less

The Closing Disclosure includes a section titled “Services Borrower Did Not Shop For.” The CFPB describes these as third-party services required by your lender in order to get a loan.

By law, borrowers must receive the Closing Disclosure at least three business days before closing. The CFPB says now is the time to resolve problems.

Its guidance is to compare that section with Section B, “Services You Cannot Shop For,” and Section C, “Services You Can Shop For,” on page 2 of the Loan Estimate.

The CFPB says the costs should be similar, but may be somewhat different. The check it describes is whether new services appear that were missing from the Loan Estimate.

Sellers show up on this form too. An agreed contribution to the buyer's closing costs appears here, and specific costs may be listed as “Seller Paid” line items on page 2.

When you review closing paperwork, what do you check first: the names or the numbers?

The closing fees you never picked
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An example post for real estate teams. We write for any local business.

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Another post we wrote for real estate teams.

Why lead paint condition matters. The pre-1978 lead disclosure, and the ten-day inspection window.

The facts in it come from Real Estate Disclosures about Potential Lead Hazards | US EPA.

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Example real estate brokerage

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Example real estate brokerage Most pre-1978 homes come with a right to know about lead before you sign.

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The EPA says lead paint in good condition is usually not a hazard. Peeling, chipping, chalking or cracking lead paint is, and it needs prompt attention.

One detail the slides skipped: the Lead Warning Statement should be in the same language as the rest of the contract. The EPA offers sample seller disclosure forms in English and Spanish.

Buyers also get a 10-day window for a lead inspection, which both sides can adjust in writing or the buyer can waive.

#LeadPaint #HomeBuying

  1. Example real estate brokerage · Sample1/3

    Lead paint in good condition is usually not a hazard, the EPA says. Peeling, chipping, chalking or cracking lead paint is, and it needs prompt attention.

    Why lead paint condition matters
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  1. Example real estate brokerage · Sample2/3

    Lead paint for homes was banned in the U.S. in 1978 but is still present in millions of homes. The federal disclosure rule applies to most pre-1978 private housing.

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  2. Example real estate brokerage · Sample3/3

    Before a buyer signs, sellers and agents must share known lead info, which may include where the paint is and its condition. Buyers then get a 10-day inspection window, which can be changed in writing or waived.

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Example real estate brokerage

Sample · not published

Lead paint in good condition is usually not a hazard.

…see moresee less

Most pre-1978 homes come with a right to know about lead before you sign.

The EPA says lead paint in good condition is usually not a hazard. Peeling, chipping, chalking or cracking lead paint is, and it needs prompt attention.

Buyers also get a 10-day window for a lead inspection, which both sides can adjust in writing or the buyer can waive.

When you walk through an older home, what do you look at first?

Why lead paint condition matters
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Example real estate brokerage

Sample · not published

Lead paint in good condition is usually not a hazard.

…see moresee less

Deteriorating paint is different. The EPA lists peeling, chipping, chalking, cracking or damaged lead paint as a hazard that needs prompt attention.

The agency says lead paint for homes was banned in the U.S. in 1978, yet it is still present in millions of homes.

The federal disclosure rule applies to most pre-1978 private housing. Before a buyer signs, sellers and agents must share known lead information, which may include where the paint is and the condition of the painted surfaces.

The buyer also receives a lead pamphlet and all available records and reports on lead-based paint and its hazards in the housing being sold.

Then comes a 10-day window for a paint inspection or risk assessment. The parties can agree in writing to lengthen or shorten it, and buyers may waive it.

Whether you run a household or a property portfolio, the condition of the paint deserves as much attention as the year on the deed.

When you walk through an older home, what do you look at first?

Why lead paint condition matters
CommentRepostSend

An example post for real estate teams. We write for any local business.

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