Closing questions.

[q4life]

What is the name of your state? NY

First I want to thank all of the professionals here for their great advice and expertise. This has made my experience much better than I thought.

Now that I am almost to the last leg...I have questions about the closing.

First... According to our contract we will be given some credits. Are these amounts deducted from whatever we'll owe at the end or is actual money exchanged? What is the likelihood of seller concessions? Does this happen when the seller just wants to be nice or is this a side negotiation when there are other things wrong with the home and it is then discussed? Are there other fees that may come up around closing time that wouldn't be listed on the GFE? I would hate surprises.

I am really looking forward to this day and really want to be prepared. Thanks.

[pojo2]

Does this happen when the seller just wants to be nice or is this a side negotiation when there are other things wrong with the home and it is then discussed?

Scary!

Since you chose to post a new thread on a subject apparently somewhere else on the site and I am not going to go digging for, I ask do you have ANYONE looking out for your interests in this transaction, Atty, Agent?

If not then get thee to a real estate Atty who can go over the contracts with you so you do not go to closing exoecting resolution of issues AFTER the paperwork is all signed, sealed delivered and yours!

[HomeGuru]

Originally Posted by q4life

What is the name of your state? NY

First I want to thank all of the professionals here for their great advice and expertise. This has made my experience much better than I thought.

Now that I am almost to the last leg...I have questions about the closing.

First... According to our contract we will be given some credits. Are these amounts deducted from whatever we'll owe at the end or is actual money exchanged? What is the likelihood of seller concessions? Does this happen when the seller just wants to be nice or is this a side negotiation when there are other things wrong with the home and it is then discussed? Are there other fees that may come up around closing time that wouldn't be listed on the GFE? I would hate surprises.

I am really looking forward to this day and really want to be prepared. Thanks.

**A: where is your Realtor?

[q4life]

She's been calling me. Waiting for the date to get here too. She's asked if I needed to make any measurements in the home but I'd rather wait till I have the keys before I spend any more money. We're on schedule. I'll be picking up my insurance next week.

[q4life]

Originally Posted by pojo2

Does this happen when the seller just wants to be nice or is this a side negotiation when there are other things wrong with the home and it is then discussed?

Scary!

Since you chose to post a new thread on a subject apparently somewhere else on the site and I am not going to go digging for, I ask do you have ANYONE looking out for your interests in this transaction, Atty, Agent?

If not then get thee to a real estate Atty who can go over the contracts with you so you do not go to closing exoecting resolution of issues AFTER the paperwork is all signed, sealed delivered and yours!

Pojo2,

What's scary is going into the closing after reading posts here about the costs being more than the GFE. We have credits due to stuff that became issues after the inspection. I beleive that there is nothing else to worry about. my only question was about concessions, how do they happen at closings. Also, if there are any hidden or surprise costs.

You have to understand I've lived in apt's my entire life. This is big for me. I want to make sure that I am doing this right and that there isnt going to be something about this process that will take me by surprise. So far the realtor and RE atty have done everything that they could do. My agent is anxious and my Attty rather no one breathe down his neck. i want this house and I know my life will forever change when I sign on the dotted line.