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Closing Procedures / Closing the Real Estate Transaction

Chapter 22
Horizontales
A/An __ is an amount that one party must pay at closing or has already paid prior to closing.
A/An __ is an amount that a party must receive at closing or that has already been received prior to closing.
A real estate closing, also known as a settlement or __, is the final step in the real estate transaction process.
__ costs are the expenses that the buyer and seller will pay at closing.
The last step in the settlement process is the disbursement of __.
Verticales
__ was implemented for the purpose of making sure that buyers understood the various settlement costs associated with getting a loan to purchase residential real estate.
The Closing Disclosure form must be provided by the lender to the borrower at least __ business days before consummation of the loan.
__ terms refer to the terms stated in the contract between the buyer and the seller.