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The closing statement includes information related to the cost of buying or selling a home. The form can also include details of the property itself. What's included on your closing statement can depend on whether you're the buyer or the seller. Property details.
The good news for the buyer is that there are often credits on the closing statement that reduce the amount of the check they need to write for closing. For example, if a buyer has put down a good faith deposit to hold the house, they will be credited for this.
An earnest deposit or earnest money is a deposit made to a seller representing a buyer's good faith to buy a home. At closing, buyers will be credited for this in the form of a credit.
The closing statement, also called a closing disclosure or settlement statement, is essentially a comprehensive list of every expense that either the buyer and seller must pay to complete the purchase of a home (or whatever the property is).
Closing statements are prepared by closing agents, who help facilitate the sale of a property to a buyer. Typically, closing agents are real estate attorneys, title companies or escrow officers.