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#1852288 - 09/16/13 02:01 PM OREO total sales price
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
Okay, so the total SP is the sales price + non financed charge charges + total finance charge.

If the bank is paying the closing costs as a credit, shouldn't this be removed from the above calculation on the final TIL?
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#1852716 - 09/17/13 12:40 PM Re: OREO total sales price RR Joker
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
bump...anybody?
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#1852727 - 09/17/13 01:05 PM Re: OREO total sales price RR Joker
HallieK Offline
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HallieK
Joined: Jul 2001
Posts: 369
Oklahoma
I am not sure what you include in non financed charge charges, but the Total Sales Price is the amount financed, the finance charge, and any downpayment. Hope this helps

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#1852753 - 09/17/13 01:40 PM Re: OREO total sales price RR Joker
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
Oh boy...I re-read my question and have apparently lost my mind at some point. I'd never added what the bank was paying...those are listed as cash...SO, in my case, I have the following as the total sales prices (using round numbers).

(Hallie, if any fees that are not finance charges are financed, they are included as well, which would be considered by using the amount financed as you have indicated).

Sales Price - $85000.00
non FC fin - 10.00 (GRMA fee)
Total FC - 11000.00
Total SP = $96010.00
Last edited by RR Joker; 09/17/13 01:47 PM.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#1853096 - 09/17/13 08:51 PM Re: OREO total sales price RR Joker
HallieK Offline
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HallieK
Joined: Jul 2001
Posts: 369
Oklahoma
That would be the correct figure for the Total Sales Price on the TIL . You just threw me alittle, cause I was listing the Box titles from the TIL. Your TIL will not list the Sales Price. The TIL Disclosure will list: The Finance Charge, Amount Financed, Total of Payments and the Total Sales Price (which add the down payment to the Total Payment amount). Both ways should total to the same amount. Hope this helps.

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#1853186 - 09/18/13 01:11 PM Re: OREO total sales price RR Joker
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
Yes...it's an easy counter-check...thanks!
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