Total due at closing less than downpayment??

[ermaderma]

I'm not sure how this is, but the total that we were told to bring to our closing tomorrow is less than our downpayment.

Purchase price is $175,000 and we are putting 10% down. We did not ask for closing assistance in our bid, so I am so confused!

Thought I would ask you ladies while I wait to hear back from our attorney.

TIA~

[munkii]

Downpayment minus earnest money? Or is it even less than that?

[lys]

closing costs, insurance prepayment, taxes prepayment??

[boiler717]

We had this happen. It was because the sellers had to come current on taxes and we couldn't get cash back at closing.

[RoxMonster]

Yeah it might be taxes. Someone at the title company screwed up our closing and did not ask the sellers for the tax money. We got a notice in Oct. that we were $2000 overdue on taxes :-| We did get it sorted out and the title company had to foot the bill since it was their screw-up, but I would make sure that the sellers pay up on taxes at closing (and that might be what the difference is coming from).

[sillygoosegirl]

Ours was less because our earnest money was already applied toward what we owed, and was more than our share or closing costs and prepaids. It was kind of a nice surprise...

[sjh722]

It's probably credit for earnest money + tax prorations.

Congratulations!