Get Fmls Notice Of Closing Form 118 2010
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How to fill out the FMLS Notice of Closing Form 118 online
The FMLS Notice of Closing Form 118 is an essential document used in real estate transactions to provide necessary information about the closing process. This guide will take you through each section of the form, offering clear, step-by-step instructions to help you fill it out accurately and efficiently online.
Follow the steps to complete the form online
- Click ‘Get Form’ button to access the notice of closing form and open it in the online editor.
- Enter the property address in the designated field. This should be the complete address of the property involved in the transaction.
- Input the FMLS number, which is a unique identifier for the listing on the FMLS platform.
- Fill in the listing agent's name along with the listing office broker code to accurately attribute the sale.
- Provide the selling office broker code and the name of the selling agent responsible for the transaction.
- Enter the binding agreement date, which is the date the contract was accepted.
- Indicate the closing date by entering the agreed-upon date for the completion of the sale.
- For closing costs paid by the seller, you will see a field that FMLS will auto-compute based on the HUD-1 totals. Ensure accuracy in the HUD-1 report.
- Specify the sold price of the property in the provided space.
- Determine if the transaction is lender mediated by checking 'Yes' or 'No'. If the former lender approved the final sales price, check 'Yes'; otherwise, FMLS will default to 'No'.
- Select the terms of the agreement by choosing one from the available options: FHA, VA, FmHA, CONV-Unins, ASSUM, CONV-Ins, OWNER, CASH, or OTHER.
- Enter the submitting broker code and contact name for reference in communication.
- Review the instructions for the listing or selling company to ensure all documents are sent correctly. This includes faxing or emailing the required documents within 3 business days and mailing payment within 10 business days.
- Once all fields are completed, you can save your changes, download the form, or print it for distribution.
Encourage users to complete their FMLS Notice of Closing Form 118 and related documents online for a streamlined closing process.
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To close out a listing in FMLS, you'll want to start by logging into your account and locating the listing in question. Once you have found it, you can follow the prompts to mark it as closed. Utilizing the FMLS Notice of Closing Form 118 during this process will help ensure that all details are properly documented and that your records remain accurate.
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