Hi all!

Is anyone aware of anything that suggests that the Sale Price, as disclosed under 1026.37(a)(7) and 1026.38(a)(3)(vii) may be rounded if the sales amount (per the sales agreement) includes cents?

I cannot find anything that indicates that the amount is allowed to be rounded, but our software seems to think it should be. I feel like I MUST be missing something here.

For example - a sales price of $136,285.54 would appear as $136,286 in the General Information section on page 1.

Thanks

You are correct. There is no provision to round the sales price.

That is interesting...I don't recall ever seeing a sales price with cents! I thought we were an oddity to include cents on loan amounts !

We've had 2 sales prices that ended in cents in the past month. Can't remember ever seeing it previously. Maybe that's why our software isn't coorperating - maybe they've never heard of the idea.

I wonder why there are cents involved?

Joker, my old bank used to include cents on loan amounts!

I can see cents on loan amounts, particularly on refinances, as the payoff will often include cents.

I'm not sure as to why there were cents in one of these scenarios, but in the other, the sale was private and included provisions for the exact cost of having installed a garden!

too funny!