Understanding Your Naples Closing Statement

Read your Naples settlement figures before signing

Your title company’s statement shows how the purchase price, charges, deposits and credits come together. Most financed home purchases also have a lender’s Closing Disclosure, generally delivered at least three business days before closing. Cash purchases and some loan types use other settlement documents.

Check the money coming in and going out

• Contract price: matches the signed agreement and amendments.
• Deposit and loan: appear as funding already available, reducing your remaining contribution.
• Loan and title charges: match the agreed terms and identify who is paying.
• Prepaids and lender escrow: distinguish advance expenses from money reserved for future tax and insurance bills.
• Prorations and concessions: reflect tax, association and negotiated adjustments.

Cash to close is a different figure from closing costs

It includes the remaining down payment and costs after deposits and credits. As a simplified example, a $500,000 price, $400,000 loan, $12,000 of buyer costs and $10,000 deposit leave $102,000 due before other adjustments.

Condominiums and seller proceeds

For a Naples condo, check association dues, approved credits and any assessment arrangements against the contract and association information. Sellers should review mortgage payoffs, daily interest, compensation, title or transfer expenses and credits before relying on the net proceeds figure.

Resolve the questions early

Ask the lender about loan entries and the closing company about settlement charges and prorations. A tax credit may cover the seller’s share of a later bill, but does not determine your future assessed value. Confirm names, address and final payment instructions directly with the title company using a known telephone number.

CFPB mortgage preapproval guidance · CFPB Closing Disclosure guide