How close does a real estate agent’s cost estimate have to be to the CD?

The real estate agent or broker’s cost estimate does not have to match the CD. The CD and Loan Estimate are tied. There’s no legal requirement in regards to the CD. I think that certainly when you get to that cash to close number that there you want to be sure that you’re going to be close to that. If you’re doing it for the seller you want to be conservative, and if they make more money that’s great. If it’s the borrower, again you want to be conservative, you probably want to show the cost is going to be a little bit more, then it’s cheaper, but there’s no legal tie between those documents.

Answered By: Charles Cain