Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Virginia > Northern Virginia
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 03-01-2011, 07:29 PM
 
5 posts, read 12,453 times
Reputation: 10

Advertisements

I am new to selling (in Virginia)... We will be closing on the sale of our home soon. The settlement commpany has contacted us and requested our SSN's. I am pretty sure they do not need that to get the payoff information from the bank? Does anyone know if SSN's are required by the settlement companies during RE closings?

I prefer not giving out that kind of information whenever absolutely possble.
Thanks in advance everyone!
Reply With Quote Quick reply to this message

 
Old 03-01-2011, 07:43 PM
 
2,879 posts, read 7,749,718 times
Reputation: 1183
They need it for a 1099. The cost basis is up to you......If you've lived in it for 2 of the last five years, and you're gain is less than 500K; I don't see why they would need it. Escrow Officers have a high level of integrity--just ask your EO.
Reply With Quote Quick reply to this message
 
Old 03-02-2011, 06:39 AM
 
Location: Richmond, VA
2,309 posts, read 2,283,171 times
Reputation: 974
They all ask for it. Typically they call the agent to get it and they (at least ME) never feel comfortable asking the client for it or handing out info so we have the title company call the client directly. The title company I worked with in NOVA was great so I never worried about them giving out info they shouldn't...
Reply With Quote Quick reply to this message
 
Old 03-02-2011, 07:17 AM
 
Location: Sterling, VA
1,059 posts, read 2,949,759 times
Reputation: 633
This is an IRS requirement, the settlement company has no choice and will face a fine if they do not obtain it.
Reply With Quote Quick reply to this message
 
Old 03-05-2011, 07:57 PM
 
Location: Northern Virginia
274 posts, read 704,723 times
Reputation: 99
Yeah, me too. I ask the client to forward the information sheet. That said, I rarely print that stuff out. I'm amazed at how much personal information is printed and retained!

Quote:
Originally Posted by twinmma View Post
They all ask for it. Typically they call the agent to get it and they (at least ME) never feel comfortable asking the client for it or handing out info so we have the title company call the client directly. The title company I worked with in NOVA was great so I never worried about them giving out info they shouldn't...
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Virginia > Northern Virginia
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top