I. Role of the Closing/Settlement in the Real Estate Cycle: 
   Listing, Showing, Offer and Acceptance, Purchase & Sale       
   Agreement, Financing, Title Search and Closing/Settlement

II. Sellers Closing Cost and Responsibilities:
   A. Deed
       1. Quitclaim, Warranty
       2. Land Court Title/Registered
   B. Real Estate Commission
   C. Municipal Lien Certificate (MLC)
       1. Proration of Water, Sewer & Taxes (math examples)
   D. Recording Fees
       1. Discharge of Mortgage
       2. M.L.C.
   E. Sellers Attorney Fees
   F. Mortgage Payoff
      1. Overnight UPS Delivery of Payoff Check
   G. Urea Formaldehyde Foam Insulation Certificate (UFFI) Certificate / Lender Requirements
   H. Smoke Detector/Carbon Monoxide Certificate
   I. Excise Tax Stamps
   J. Title V (single unit)
   K. Lead Paint Forms
   L. Certificate of Occupancy
       1. Order of Conditions / Board of Health
   M. Condo
      1. Condo Documents / Master Deed, By-Laws, Rules and Regulations and Budget
      2. 6D Certificate
      3. Condo Reserve Fund
      4. Title V (shared system)

III. Buyers Closing Costs and Responsibilities:     
   A. Real Estate Commission
   B. Home Inspection costs
        1. Lead Paint
        2. Radon
   C. Bank Application Fee
   D. Appraisal Fee
   E. Plot Plan
   F. Financing Points
   G. Fuel Adjustment
   H. Buyers Attorney Fees
   I. Title Insurance
       1. Flood Insurance
       2. Private Mortgage Insurance (PMI) Tax Escrow
       3. Home Owners Insurance
   J. Bank Attorney Fees (Title Search)
   K. UFFI Certificate / Lender Requirements
   L. Recording Fees
       1. Mortgage Deed
       2. Mortgage Note
   M. Condo
       1. Advance Condo Fee
       2. Condo Reserve Fund (transfer or assign)
       3. Master Insurance Policy
       4. By-Laws & Rules and Regulations

IV. Documents at Closing:                   
   A. Deed
   B. Mortgage Deed
   C. Mortgage Note
   D. Mortgage Discharge
   E. Municipal Lien Certificate
   F. Attorney Certification of Title
   G. Real Estate Settlement Procedures Act (RESPA) / RESPA Settlement Statement
   H. UFFI Statement
   I. Plot Plan
   J. Insurance Policy / Binder
   K. Lead Paint Certification
   L. Smoke Detector / Carbon Monoxide Certificate
       1. Certificate of Compliance
   M. Truth-In-Lending Disclosure
   N. Affidavit of Purchase & Vendor
   O. W-9's
   P. Application Form
   Q. Commitment Letter
   R. Title Insurance
       1. For Probate Properties and Death Certificate or Power of Attorney and Power to Sell
       2. Condo
       3. 6D Certificate

V. Settlement Statement:                        
   A. Distribution of a completed RESPA Settlement Statement
   B. Recommended for class / case discussion

VI. Broker's Role and Impact on the Closing Process at the following stages:
   A. Listing
   B. Showing
   C. Offer
   D. Purchase and Sale Agreement
       1. Short Sale Addendum if necessary / if third Party Approval Required
   E. Home Inspection
   F. Bank Application and Approval
   G. Bank Appraiser
   H. Bank Attorney (Title Search)
   I. Walk thru (Buyer Agent and Buyer)
   J. Scheduling of Closing
       1. Utility Transfer
       2. Seller calls their Insurance Company to cancel

   Suggested Handouts:
      -HUD 1 – Settlement Statement