Most people seem to look at the process of buying a home as this scary confusing task they are just along for the ride on as they sign their life away with each passing page of a closing document.

https://i.imgsafe.org/36ddd6628f.jpg

All the information and understanding what is what can certainly be daunting.  However, you don't need to be an expert on each line item to ensure you are not being overcharged for anything.  Really you just need a basic understanding of each section of the closing disclosure and then question any cost or item that you don't understand or seems awry.

Most importantly though - review the document (even if you don't know what you are looking at some stuff is just obvious).

### Example
This is something that actually just happened on the deal I am closing on Feb 7th.  It shows having a basic understanding of the closing document can save you from getting screwed out of money.

A final closing disclosure is submitted three days before closing.  This is the last chance to make any necessary changes or iron out any wrinkles before going to the closing table.  After receiving this document yesterday I began to go through each section to make sure everything was as expected.

Items such as:
+ Interest Rates/Points
+ Appraisal/Survey Fees
+ Buyer or Seller Credits
+ And so on....

However, when I got to the "other costs" section of the document I saw a line item that read "Broker Compliance Fee" and had a charge of $350.   

First reaction:  What the heck is that!?

I don't recall seeing anything about it in the sales contract and the $395 "broker processing fee" I had waived on the sales contract I did sign.

Was it a hidden cost?  Maybe a mistake?

Reached out to the mortgage lender and the realtor's office to see what the deal was.  Turns out the $350 was the processing fee charge that "accidentally" got included.   The fact that the cost was $350 as opposed to the $395 leaves me skeptical that the realtor office wasn't just hoping I overlooked it since thinking it was a different charge.

I have no doubt that a large chunk of people would have ended up paying it as many just look at the total number they need to pay out and as long as it's in the ballpark of what they expect the funds are sent.

Forget that!  Yeah - $350 may only represent 1.2% of the 29k I need to bring to closing, but that's money straight to my bottom line instead of theirs.

### Conclusion

Review your closing documents and don't be bashful about questioning anything and everything.  Every one you are working with on it is being paid by you so don't hesitate to have them do their job. 
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For a more detail about the closing doc and what to expect see my prior post: [Time to Close on Your Property](https://steemit.com/scaredycatguide/@scaredycatguide/scaredycatguide-to-real-estate-investing-part-xiv-it-s-time-to-close-on-your-property)

For even more detail on the world of real estate investing and to get the property calculator for free visit my website: [ScaredyCatGuide.com](http://scaredycatguide.com/)
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Regards, 
https://steemitimages.com/0x0/https://steemitimages.com/0x0/https://steemitimages.com/0x0/https://i.imgsafe.org/4f26ea823b.jpg
Thanks for the pic [pixabay](https://pixabay.com/en/signature-contract-2003808/)
Disclaimer: All info within is my opinion and for educational consumption.