Question
You are assisting in a real estate sale transaction. The title examination reports that there is an outstanding loan to Second Bank and Trust on
You are assisting in a real estate sale transaction. The title examination reports that there is an outstanding loan to Second Bank and Trust on the property. The loan is to be satisfied at closing. You believe that the closing will take place on July 10. You obtain from Second Bank and Trust a satisfaction payoff letter indication how much money is needed to pay the loan as of July 10. The loan closing is delayed and does not take place until July 15. Is there any additional information that you may need from Second Bank and Trust from the July 15 closing? Explain your answer.
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