Question

A document commonly used in real estate transactions, detailing the fees, commissions, insurance, etc. that must be transacted for a successful transfer of ownership to take place is known as what...?

Answer 1

A closing statement stands as a form utilized in a real estate transaction that contains an itemized list of all the buying or selling costs associated with that transaction.

What is Closing statement?

A closing statement stands as a form utilized in a real estate transaction that contains an itemized list of all the buying or selling costs associated with that transaction. It's a standard component of home sales, especially those that concern mortgages, and refinancing's. To summarize and facilitate the financial transaction on the day of closing.

A document commonly utilized in real estate transactions, detailing the fees, commissions, insurance, etc. that must be transacted for a successful transfer of ownership to bring place exists understood as a closing statement. The closing statement stands as a spreadsheet document that constitutes the statement of actual settlement costs and it is usually furnished by a real estate agent to a home seller while the bank provides it to the home buyer.

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