Your Vivid Shores Closing Statement Explained

Make sense of a Vivid Shores closing statement

Review the settlement figures while there is still time to ask questions. Most financed residential purchases include a lender’s Closing Disclosure, generally received at least three business days before closing. The title company may supply an additional statement; cash transactions use different settlement documents.

Confirm the complete purchase price

For a new home, check the final contract and changes for the homesite, selected options and agreed features. Reconcile deposits, negotiated credits and any amendments. For a resale, check the price and concessions against the signed agreement.

Follow the charges and credits

• Loan funds and deposits reduce the amount you still need to bring.
• Lender fees and points should be compared with the Loan Estimate.
• Title premiums, settlement fees and transfer charges should identify the paying party.
• Prepaid insurance or interest differs from the initial lender escrow reserve.
• Taxes, association expenses and agreed district adjustments follow the contract.

Check cash to close and proceeds

A simplified $500,000 price with a $400,000 loan, $12,000 of costs and a $10,000 deposit leaves $102,000 due before other credits or prorations. Closing costs alone are not the total cash required.

Sellers should reconcile mortgage payoffs, daily interest, agreed compensation, credits and prorations to understand net proceeds. For new homes, an estimated tax proration may be based on incomplete assessment information; ask about later adjustments.

Before releasing your funds

Confirm names, property details and the final amount. Direct loan questions to the lender and settlement questions to the title company. Verify wire instructions by calling a previously confirmed number for the closing company.

CFPB mortgage preapproval guidance · CFPB Closing Disclosure guide