STR Closing Documents and Final Numbers
Review lender disclosures, settlement statements, closing packages, fees and seller credits before funding your purchase.
Practical answers for buying and launching a short-term rental with BNB Accelerator. Updated September 30, 2026.
What documents should I expect to receive before and after closing?
Before closing, expect the title commitment, verified wire instructions, draft settlement figures, seller disclosures, HOA documents where applicable, inspection reports, insurance binder and agreed amendments.
Your lender supplies the applicable loan documents, appraisal and approval conditions. For covered consumer mortgages, the Closing Disclosure is generally due at least three business days before consummation. Business-purpose loans, including many DSCR loans, may be exempt and use different disclosures.
At closing, review the final settlement statement, loan documents if financed, deed, affidavits and entity documents where relevant. After closing, retain the executed package, recorded deed, title policy and loan-servicing information. Delivery timing varies.
See CFPB disclosure guidance and business-purpose exemptions.
What is the difference between the Closing Disclosure, ALTA settlement statement and final closing package?
The Closing Disclosure is the standardized loan and cost disclosure used for covered consumer mortgages, generally received at least three business days before consummation. Many business-purpose loans are exempt, so confirm which disclosure applies.
The ALTA settlement statement shows transaction charges, credits, prorations and disbursements and may also be used in cash transactions. The closing package contains the documents actually signed, including the deed and any applicable note, security instrument, affidavits and disclosures.
See CFPB Closing Disclosure guidance and exempt transactions.
What should I review before I send my final wire?
The TC team will review the final documents with you before wiring the cash to the title company.
What should I do if I see a fee or charge on the closing statement that I do not recognize?
Call your acquisition manger and @ them in the slack channel!
What happens if something on the closing statement is incorrect?
Call your acquisition manager and we’ll have it corrected by the correct party.
If I paid insurance or another expense outside of closing, how do I make sure I am not charged twice?
Provide the receipt and proof of payment to title, the lender and transaction coordinator before final figures are approved. Confirm whether the closing line is a premium, escrow deposit or another charge.
If a duplicate payment is confirmed, ask the collecting party to correct the statement or arrange the appropriate refund. Do not assume every insurance-related line is a duplicate.
Will I ever receive unused seller credits as cash after closing?
Do not expect unused financing concessions to become a cash payment. Seller credits must satisfy the lender's eligible-cost rules, program caps and actual-cost limits.
Review usable costs before closing. A lender-approved rate buydown or a separately negotiated price reduction may be options; neither is automatic. Fannie Mae seller-credit rules
What happens to seller credits that exceed my eligible closing costs?
Unused credits may be lost unless the parties and lender approve a permissible adjustment before closing. Discuss an eligible rate buydown or a negotiated purchase-price reduction early; the seller need not agree and the lender must approve the revised structure.
Credits cannot simply be redirected to furniture, renovations or cash back. Fannie Mae seller-credit rules
Plan your next STR purchase
Discuss your budget, target markets and timeline with our acquisition team.