Real Estate Guide

Selling Your Home - Questions and Answers
'Escrow & Closing Costs'

• Do Sellers have to disclose terms of other offers?
• Where do I get information about closing costs?
• What Will Your Net Proceeds Be?

Do sellers have to disclose the terms of other offers?

Sellers are not legally obligated to disclose the terms of other offers to prospective buyers. However, when presented with two or more offers at the same time, it is very often in the sellers best interest to do so. Giving two or more interested buyers the opportunity to 'out bid' one another - will often drive the purchase price upward.

Where do I get information about closing costs?

• For more on closing costs, ask for the "Consumers Guide to Mortgage Settlement Costs," Federal Reserve Bank of San Francisco, Public Information Department, P.O. Box 7702, San Francisco, CA 94120 or call (415) 974-2163.
• The HUD-1 Form
• Your Settlement Costs, from the  Department of Housing and Urban Development (HUD).
• 1st Title Affiliated Business Arrangement Disclosure

What Will Your Net Proceeds Be?

Net Profit. Calculate & Print a 'Net Proceeds Evaluation Sheet.' Estimate your seller-side costs and calculate how much you'll make on the sale of your home.