Q: What is a disclosure statement? A: A disclosure statement, as used in the real estate context, is a form the seller of property must complete and provide to the buyer disclosing to the buyer all defects and various other information about the residential property.
Q: What is a closing? A: Although this term may mean different things in different states, the "closing" is a meeting where all of the documents are signed and money changes hands.
Q: What is Truth-in-Lending? A: A federal law that requires lenders to fully disclose, in writing, the terms and conditions of a mortgage, including the annual percentage rate (APR) and other charges.
Q: What is the Real Estate Settlement Procedures Act (RESPA) A: A consumer protection law that requires lenders to give borrowers advance notice of closing costs.
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All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Carey Real Estate fully supports the principles of the Fair Housing Act (Title VIII of the Civil Rights Act of 1968).