The purchase agreement records negotiated terms, while the Closing Disclosure presents a regulated loan and settlement calculation. Comparing them can reveal unresolved credits, deposits, or cost allocations.
Key takeaways
- Start with the purchase price and work through deposits and credits.
- Check seller concessions, prorations, taxes, and payoff amounts.
- Keep a written explanation for each difference.
Build the comparison
Use the executed agreement, amendments, Closing Disclosure, settlement statement if provided, invoices, and tax records. Compare the parties, property, price, deposit, credits, loan amount, cash to close, and charges. Identify whether a difference comes from a negotiated change or a calculation.
Resolve open items
List the source and owner for each discrepancy. Confirm corrections in the next disclosure or closing statement and retain the final signed versions. Questions about lending disclosures or legal obligations should go to the appropriate professional.
Sources and limitations
Settlement documents and disclosure rules vary. This article is an organizational guide, not lending, tax, or legal advice.