What to Keep from Your Closing

  • The Real Estate Settlement Procedures Act (RESPA) statement. This form, sometimes called a HUD 1 statement, itemizes all the costs associated with the closing. You’ll need for income tax purposes and when you sell the home.
  • The Truth in Lending Statement summarizes the terms of your mortgage loan.
  • The mortgage and the note (two pieces of paper) spell out the legal terms of your mortgage obligation and the agreed-upon repayment terms.
  • The deed transfers ownership of the property to you.
  • Affidavits swearing to various statements by either party. For example, the sellers will often sign an affidavit stating that they have not incurred any liens on the property.
  • Riders are amendments to the sales contract that affect your rights. For example, if you buy a condominium, you may have a rider outline the condo association’s rules and restrictions.
  • Insurance policies provide a record and proof of your coverage.

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright / All rights reserved.

Click here for printer-friendly format

Contact Us

By choosing David and Danielle Contreras at SanJoseHighRises.com as your trusted real estate partners, you gain exclusive access to our extensive portfolio of high-rise properties in the Silicon Valley. Our meticulously curated selection of listings by complexes and areas, are all featured prominently on our website. With our finger on the pulse of the Silicon Valley real estate market for the last 18 years, we possess the insider knowledge required to identify hidden gems, pre-market listings and navigate market trends. Want to be part of the coming soon club?

We understand that purchasing a home is a significant investment, both financially and emotionally. That's why our team of seasoned professionals are dedicated to providing you with unparalleled customer service and support. From the moment we make contact, we will take the time to attentively listen to your unique living situation and help with your best path to home ownership. When working with us we will diligently research properties that align with your preferences, and guide you through each step of the buying process. With our expertise and personalized approach, we are committed to exceeding your expectations and ensuring your satisfaction. Make the informed choice and contact us today to embark on your journey towards finding the perfect home in this vibrant Area Of The Bay.

* Required