Escrow & Title
A closing 'dry' vs. 'wet' settlement refers to:
AWhether the property is in a flood zone
BWhether loan funds are disbursed at the same time as document signing (wet) or after documents are reviewed (dry)✓ Correct
CWhether utilities are included in the closing costs
DWhether the transaction involves a water-front property
Explanation
In a 'wet' closing, loan funds are disbursed at or shortly after signing. In a 'dry' closing (common in many western states including Utah), documents are signed, then sent to the lender for review and funding authorization before funds are disbursed—which can take a day or two.
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