Closing Disclosure Form (CDF) - DisplaySoft

DisplaySoftTM

Close It?

Closing Disclosure Form (CDF)

Real Estate Software User's Guide

Close It ? Closing Disclosure

Title Page

DisplaySoftTM 2018

Display Systems, Inc.

Get Started

Open a new file or a file in progress (File).

Inside Start (1), Terms (2), select the transaction

and closing statement style (3), click "CDF," i.e., 2

the "transaction" chosen for "Close It".

Begin anywhere and return at any time. The information from "Start" will populate the closing statement and all other forms. Make changes in Start to update the closing statement and all other forms.

1 3

4

Choose the transaction type, closing statement style, and then click CDF on the top menu

Several title companies are available

Close It ? Closing Disclosure

Page 1

DisplaySoftTM 2018

Display Systems, Inc.

Close It

For software purposes, "Close It" represents the closing statement, i.e, CDF, GFE and HUD styles.

Click "CDF" from the top menu and then

click on a page or form from the side menu to

begin data entry.

Data Entry

Forms designed for "Edit" allow data entry, which is collected and placed on other forms that have no data entry.

Forms designed as "View Only" collect their information from the closing statement (CDF).

CDF

? Edit CD pages 1 through 5 ? View Miscellaneous Forms ? Edit 1099-S Form

Close It ? Closing Disclosure

Page 2

DisplaySoftTM 2018

Display Systems, Inc.

PREFERENCES

Click File, Preferences. You must first have a file opened before accessing the preferences.

Use "Preferences" to set the buyer or seller as the party paying for the owner policy title charge, recording fees and transfer tax.

Set the title charge for owner policy to be paid by the buyer otherwise do not put a check mark in "Owner's Policy charge ? Default to Buyer" for the title calculator to post the owner policy charge to the seller amount column.

Begin with the "Default Settings" and select options for the most frequent happenings. Use "Settings for this file" and make the same choices under this heading. In future, change "Settings for this file" when the current real estate settlement case is different from the most frequent happenings.

Close It ? Closing Disclosure

Page 3

DisplaySoftTM 2018

Display Systems, Inc.

CDF Page 3 ? Deposit

Use the expander to open the deposit information and enter the deposit into "Broker," "Other Escrow," or "Seller Directly." The deposit appears as a credit on the buyer side of the settlement statement. A portion of the deposit data entry is reserved and integrated with the commission calculator on Page 2, Section H.

OTHER ESCROW The "Other Escrow" is intended for use by the settlement agent to indicate the amount is available at settlement from the closer's escrow account.

SELLER DIRECTLY The "Seller Directly" is not intended for use by the broker. An amount given from the buyer to the seller or from a third party to the seller prior to closing will appear on the buyer and seller sides of the settlement statement; a reduction to the seller at closing. The amount direct to seller will not appear on the balance sheet as income.

BROKER: A deposit to broker will appear as income on the balance sheet and retained by the settlement agent unless it is retained by the broker or moved to "Excess Deposit to Seller." Any amount retained by the broker will show in the retained area based on the information shown in the commission calculator.

Close It ? Closing Disclosure

Page 4

Click the ^ to open and close DisplaySoftTM 2018

To Realtor

To Agent To Seller

Reserved for Commission Calculator

To Broker ? Not Retained To Realtor

Not Retained Not Retained

Display Systems, Inc.

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