Borrower sells House 1 and uses proceeds to buy House 2. Both closings occur about the same time. House 1 proceeds are wired from closing agent for House 1 to closing agent for House 2. Should Cash to Close (CTC) section of CD be reduced by House 1 proceeds, or would the CTC on the CD be the full amount and House 1 sale proceeds treated as if Borrower brought the entire CTC amount to closing?
If sale proceeds to be shown on the CD, what section of L would we show them?
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