Chicago Title NCS Chicago: SYFCREC 2021

Surviving Your First Commercial Real Estate Closing I Escrow Agreements & The Closing Process Disbursement Statement: Disbursement Date: Buyer: Seller: Lender: Property: Description Buyer Credit Buyer Debit Seller Credit Seller Debit 1. Purchase Price 2. Earnest Money 3. Rent proration 4. Tax proration 5. Loan Amount 6. Loan fees 7. Title fees 8. 3 rd party invoices Total Due Buyer/Seller= Closing Disbursement Statement 31 Surviving Your First Commercial Real Estate Closing I Escrow Agreements & The Closing Process From Seller o Seller’s Instructions (if any) o Receipt of Seller’s Documents o 1099 o Invoices / Wire Instructions for Third Party Payments (if any, or if all invoices are on Chicago Title Disbursement Statement please advise) o Signed Disbursement Statement o Wire Instructions for Proceeds o Final OK to close, Seller Closing Open Items List 32 From Purchaser o Purchaser’s Instructions (if any) o Receipt of Purchaser’s Documents o Invoices / Wire Instructions for Third Party Payments (if any, or if all invoices are on Chicago Title Disbursement Statement please advise) o Signed Disbursement Statement o Funds to close o Final OK to close, Purchaser From Lender o Lender’s Instructions o Receipt of Loan Documents o Invoices / Wire Instructions for Third Party Payments (if any or if all invoices are on Chicago Title Disbursement Statement please advise) o Loan Figures / Statement o Loan Proceeds o Final OK to close, Lender From Underwriter (Note: The Underwriter will advise separately of any clearance items required to close.) o Final OK to close, Underwriter 31 32 163