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At closing, you will be presented with a number of closing documents that can be overwhelming and confusing. We will work with your lender to provide copies of all closing documents for your review prior to closing. We have provided samples of documents below that you will encounter in almost all real estate transactions. Providing these documents is just another way we are leading the way in responding to consumer demand and proposed governmental mandates for increased transparency and information regarding real estate transactions and closing costs.


This is a standard form in use in the United States of America (and has become standard for all closings, including cash closings) which is used to itemize services and fees charged to the borrower by the lender or broker. The form is filled out by the settlement agent who will conduct the settlement. It should be carefully reviewed. A list of charges to each party is shown with a total at the bottom. The front page is a summary of the transaction for each party. For the buyer it will be sales price plus any prorated charges in the top section, and the lower section lists credits such as loan amount(s), earnest money paid, and other credits. The sellers column will show sales price plus any prorated credits to the seller in the top section and in the second section, will be listed any reductions in the amount of the seller’s proceeds such as payoffs of mortgages, taxes due, etc.

PROMISSORY NOTE (Fixed Rate Note and Adjustable Rate Note)

Details the terms of the loan. Review this carefully at closing. It will contain the amount of money being borrowed, the interest rate, the loan term, payment due dates, Prepayment and late payment penalties and/or fines as well as grounds for default.

Deed of Trust (Mortgage)

A document which pledges real property to secure a loan, used instead of a mortgage in several states including Tennessee. The property is deeded by the title holder (trustor) to a trustee (often a title company or Attorney) which holds the title in trust for the beneficiary (the lender of the money). When the loan is fully paid, the trustor requests the trustee to return the title by reconveyance. If the loan becomes delinquent the beneficiary can file a notice of default and, if the loan is not brought current, can demand that the trustee begin foreclosure on the property so that the beneficiary may either be paid or obtain title.

Other Documents

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