Closing?

When do you hand over the downpayment.

Also one of our options is 100% financing from one of our lenders. He said that we could keep our DP to pay for closing costs but we told the seller 5% with a sellers concession.

Would the bank then allow us to give the seller the DP and pay all of the fees involved except our lawyer fee???? Or would we pay as normal the DP to the seller and get cash back from the bank at closing -the difference in the loan for the DP since the loan covers ALL of our closing costs & DP?

Part of the DP is paid at contract and held in escrow by the seller's attorney until closing. The remainder of the DP is paid at closing.

I don't know about 100% financing. FM ValeryEsq.