Professional Real Estate Buyer’s Closing Statement
Date: 12/09/2055
Buyer’s Name: Leontius Falkner
Buyer’s Address: 3478 Sparrow Ridge Drive
City, State, ZIP Code: Austin, TX 73301
Seller’s Name: Octavia Mercer
Seller’s Address: 1290 Birchwood Path
City, State, ZIP Code: Austin, TX 73301
Property Address:
2506 Falcon View Lane
Austin, TX 73301
CLOSING STATEMENT
Transaction Details
Contract Date: 11/01/2055
Closing Date: 12/15/2055
Sale Price: $520,000
Property Type: Single-Family Home
Financing Method: Conventional Loan (20% Down Payment)
BUYER'S COSTS
Purchase Price:
Closing Costs:
Subtotal Buyer’s Closing Costs: $6,850
Prorated Costs (Buyer’s Portion):
Property Taxes (for December 2055): $520
Homeowner’s Association Fees (for December 2055): $275
Utility Adjustments (for December 2055): $125
Down Payment (Buyer’s Contribution):
Loan Amount (Buyer’s Financing):
Other Buyer Contributions:
TOTAL AMOUNT DUE FROM BUYER
Total Amount Due at Closing:
$6,850 (Closing Costs) + $104,000 (Down Payment) - $4,000 (Seller Credit)
Total Due from Buyer: $106,850
SELLER’S COSTS
Seller's Closing Costs
Real Estate Agent Commission (Buyer’s and Seller’s side): $31,200 (6% of Sale Price)
Seller’s Attorney Fees: $1,700
Seller’s Title Insurance: $1,300
Repairs (Seller’s Agreed Contributions): $3,500
Other Seller Costs: $600
CREDIT AND DEBIT SUMMARY
Total Debits to Buyer:
Total Credits to Buyer:
Balance Due from Buyer at Closing:
NOTES AND TERMS
Contingencies: All contingencies for the inspection and appraisal have been cleared.
Escrow Instructions: Buyer is required to deposit $106,850 into the escrow account by 12/14/2055 for the closing on 12/15/2055.
Home Warranty (if applicable): Seller will provide a 1-year home warranty, which will be transferred to the buyer at closing.
Other Terms: Buyer agrees to maintain the insurance policy as specified in the loan agreement, effective from the closing date.
Acknowledgment:
I, Leontius Falkner, acknowledge the terms outlined in this closing statement and confirm the amounts stated above are correct. I agree to proceed with the closing process based on the outlined terms.
Signature:
Leontius Falkner
Date: 12/09/2055
Prepared by:
[Your Name]
Closing Agent
Prestige Realty Services
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