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This closing statement was for a home with no points paid and a beginning of the month closing. |
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Settlement Date: |
6/8/00 |
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Proration Date: |
6/7/00 |
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DEBITS (charges) |
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Purchase Price |
$362,000.00 |
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Appraisal Fee for Bank |
$375.00 |
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Credit Report for Bank |
$18.50 |
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Real Estate Tax Service Fee |
$76.00 |
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Underwriting Fee for Bank |
$100.00 |
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Doc. Review Fee for Bank |
$125.00 |
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Flood Certification for Bank |
$16.00 |
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Interest Credit for 7 days. The first home payment will be due on July 1 not Aug. 1 as would be the norm. |
-$290.71 |
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Hazard Insurance Premium 1 Year in advance |
$543.00 |
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Escrow Hazard Insurance Reserve |
$90.50 |
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Escrow County Tax Reserve |
$719.65 |
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Escrow Aggregate Adj. |
-$287.86 |
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Title Co. Closing Fee (1/2) |
$100.00 |
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Title Insurance (for Bank) |
$213.00 |
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Tax Certificate |
$15.00 |
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Loan Closing Fee - Title Co. |
$75.00 |
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Recording Fees - County Clerk |
$45.00 |
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State Tax/Stamps - County Clerk |
$36.20 |
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Gross Amount Due From Buyer |
$363,969.28 |
Note: total closing costs were only $1,969.28. |
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CREDITS |
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Earnest Money Deposit |
$7,500.00 |
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Principal Amount of New Loan |
$181,000.00 |
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County Taxes 1/1/00 - 6/8/00 1,727.11/366 days x 159 days = |
$750.30 |
Note: in Colorado we pay property taxes in arrears. That is, in January we get the bill for the previous year. Thus, this credit reflects the seller giving "his share" of the current year taxes to the buyer. |
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Inspection Resolution |
$1,700.00 |
There was a major repair that came up during inspections. Rather than repair it, seller and buyer agreed to a $1,700 credit for "inspection resolution". |
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Less Total Credits to Buyer |
$190,950.30 |
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BALANCE |
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Gross Amount Due from Buyer |
$363,969.28 |
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Less Total Credits to Buyer |
$190,950.30 |
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AMOUNT DUE FROM BUYER |
$173,018.98 |
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Last Updated July 29, 2010
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Rick Lorenz, Broker,
CRS, ABR, CLHMS, CNE The Wells Group Real Estate Brokerage 901 Main Avenue, Durango, CO 81301 (970) 375-7007 (800) 955-0259 ext 1123 E-Mail: Rick@BuyDurango.com Copyright 1999 - 2010 All content is copyright protected as intellectual property of RickLorenz |
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