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good-faith estimate

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good-faith estimate

An initial estimate of expected closing costs, net proceeds to seller, gross cash required of buyer, or loan expenses. By virtue of various state and federal laws, a seller's real estate agent may be required to provide a good-faith estimate of net seller proceeds to accompany every offer; the closing company may be required to provide a good-faith estimate of closing expenses to the buyer, and a lender may be required to provide a good-faith estimate of loan costs to a borrower.



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One way to know this is to ask for a GFE or good-faith estimate, which includes all the basic costs associated with the purchase.
You are hereby ordered to provide [the Chronicle] with a revised written, good-faith estimate which reflects the actual costs of providing the names of the students whose parents have consented to release of directory information," Supervisor of Public Records Alan Cote wrote in a February 12 letter.
will require lenders and mortgage brokers to provide consumers with a good-faith estimate that discloses key loan terms and
 
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