PEGGY ALLEN, ABR, CRS, GRI 

Integrity, Innovation, Loyalty  

   YOUR REAL ESTATE CONSULTANT

 LICENSED IN IOWA AND ILLINOIS 

RE/MAX BI-STATE - 901 E KIMBERLY ROAD - OLD TOWN MALL  -  DAVENPORT, IOWA 

1-563-359-3898   Home        -       1-563-349-0100   Cell       -       1-563-388-0008   Office       -       1-563-388-0008   Fax  

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 this 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.

§        In Iowa, the property's abstract, or knowledge of its location.

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