Homes-R-Us Realty of MA, Inc.                                                                                 WHAT YOU SIGN AT CLOSING

Truth-in-Lending Statement: Contains the full disclosure of the annual percentage rate, amount financed and the total cost of the loan over its life. Signed by the buyer. Itemization of Amount Financed: Summarizes and explains the prepaid finance costs - which are subtracted from the total loan amount - mentioned on the Truth-in-Lending Statement. Signed by buyer. HUD-1 Settlement Statement: Itemizes the details of the financial transaction between the buyer and the seller. Contains all real estate closing costs, plus costs to the borrower. Signed by the buyer & seller. Monthly Payment Letter: Shows the total monthly payment, itemizing the portions for principal, interest, taxes, insurance premiums and other monthly escrows. Signed by the buyer. Mortgage: A document showing that a lien is being placed against a property. It allows the lender to foreclose the property in case the borrower defaults. Signed by the buyer. Promissory Note: The actual agreement between the borrower and lender, explicitly stating the terms of the loan including the amount, interest rate, and terms. Signed by the buyer. Warranty Deed: The document that transfers the title of the property from seller to buyer. Signed by the seller. Tax Pro-ration Agreement: Buyer & seller agree to cooperate in re-prorating the property taxes in the following year once the actual bill is known. Signed by buyer & seller. Homeowner's Dues Pro-ration Agreement: Same as the tax pro-ration agreement, except that it addresses homeowner's dues. Signed by buyer & seller. Name Affidavit: Certifies that the parties at the closing are known by the names they are using in the transaction. Signed by buyer & seller. Acknowledgment of survey and termite reports: Assures that buyer has seen the survey and termite reports. Signed by the buyer. Borrowers Affidavit: Requires borrower to state that they have not altered the property in any way that might cloud the title. Signed by the buyer. Seller's Affidavit: Requires sellers to state that they have not altered the property in any way that might cloud the title. Signed by the seller. 1099 Form: An IRS form that reports the gross proceeds from the transaction. Signed by the seller. Confirmation of Payoff: A report of where money is being paid to redeem liens placed against the property. Signed by the seller. Non-Foreign Owners Notice: Notifies the buyer that if the seller is a foreigner and leaves the country without paying income taxes on the transaction, the buyer is liable for the taxes. Signed by the buyer. Compliance Agreement: Requires buyer & seller to state that if there are unintentional typographical errors on any of the documents, they both will cooperate to correct changes in the documentation. Signed by the buyer & seller.