Under the terms of your contract the money payable at closing must be in the form of a certified or bank check(s) (except for cash not over $1,000 and uncertified checks(s) for the net tax adjustments).

In determining the Certified or Bank Checks you will need you should first refer to the Proposed Closing Adjustments.  This lists the sales price of the property plus credits due to the Seller less your deposit on contract signing and any credits due you.  The final number is the Balance Due Payable at Closing.

From the Balance Due and Payable at Closing deduct the Net Proceeds of Your Mortgage and your title charges (or lien search if a coop).  This will give you the amount of Certified or Bank Checks you will need at closing.  The Seller will tell us how he wants the checks cut (to whom and in what amount).

The Net Proceeds of Your Mortgage is the amount of your mortgage less the following.

Thevvvv	A) Mortgage Broker’s fee, points, application fee, lock in fee, appraisal fee, lender’s Attorney Fee, Credit Report, Documentation or Administrative Fee, Tax Service, Floor Certification, messenger fee (you may not be charged for all these items and your lender may have other fees or use different terms to describe the above) and Escrow Amount.
	B) Interim Interest (this is the per diem interest charge of your mortgage from the date of closing until the end of the month.  You will have no mortgage payment for the month following your closing and your first full mortgage payment will be the beginning of the second month after your closing.
Your lender or Mortgage Broker can give you an estimate of your Net Proceeds.  Your attorney will receive the actual number the day before the closing.  The afternoon before the closing you will have to get the Certified and Bank Checks you will need.