This Closing Statement is for a real estate transaction where the transaction is a cash sale or provides for owner financing. This settlement statement is verified and signed by both the seller and the buyer.
Fullerton California Closing Statement is a legal document that concludes a real estate transaction in Fullerton, California. It is typically prepared by the escrow officer or the real estate attorney involved in the transaction and contains crucial information and financial details related to the property sale. The Fullerton California Closing Statement serves as a detailed breakdown of all the expenses and charges incurred throughout the buying or selling process. It ensures transparency and provides an accurate account of the financial obligations both parties must fulfill to complete the sale. This statement is presented to the buyer and seller during the closing process and is an essential part of the closing documentation. In Fullerton, California, there are two primary types of closing statements commonly used: 1. Buyer's Closing Statement: This type of closing statement focuses on the buyer's financial obligations. It outlines the purchase price, any down payments made, the amount of the loan, prorated property taxes, loan origination fees, appraisal costs, title insurance fees, and any other expenses that pertain to the buyer's side of the transaction. The Buyer's Closing Statement is crucial for the buyer to understand the total cost involved in purchasing the property accurately. 2. Seller's Closing Statement: The Seller's Closing Statement details the financial aspects concerning the seller. It includes the sale price, any outstanding mortgage balance, prorated property taxes, real estate agent commissions, title search and insurance fees, recording fees, and any agreed-upon closing costs, among other expenses. The Seller's Closing Statement ensures transparency regarding the seller's financial obligations, allowing them to track the net proceeds from the sale. The Fullerton California Closing Statement is a comprehensive document essential for ensuring a smooth and transparent real estate closing process. Buyers and sellers should carefully review this document to reconcile any discrepancies and address concerns before finalizing the transaction. It is recommended to consult a qualified real estate attorney or escrow officer to assist in understanding and verifying the accuracy of the closing statement.
