What is a closing disclosure statement?

A closing disclosure statement is a document that outlines the terms and details of your residential real estate transaction in New Hampshire. It provides a summary of the final details of your real estate transaction, such as the loan terms, estimated closing costs, and taxes and other fees. The closing disclosure statement must be provided to you at least three business days before the closing of the transaction. The closing disclosure statement is designed to protect buyers and sellers in a residential real estate transaction by providing both parties with a clear and concise breakdown of the costs associated with the transaction. It also serves as a record of the purchase price, taxes, and other costs and fees associated with the purchase. Additionally, the closing disclosure statement acts as a tool that allows the parties to ensure that the terms of the transaction have not changed since the initial agreement was made. In New Hampshire, all real estate transactions must include the closing disclosure statement. It is an important tool that ensures that buyers and sellers are both aware of the details and final costs associated with their transaction, helping to protect both parties from any misunderstandings or costly surprises.

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What is a closing disclosure statement?

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