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.
The Sacramento California Closing Statement is a legal document that summarizes all the financial transactions and disbursements related to a real estate transaction in Sacramento, California. It serves as a comprehensive record of all the costs and payments involved in the purchase or sale of a property within the jurisdiction. The closing statement includes a breakdown of various financial elements such as the purchase price, earnest money deposit, loan amount, prorated property taxes, homeowner association fees, inspection fees, title insurance costs, escrow fees, and any additional closing costs. It clarifies how these expenses are allocated between the buyer and the seller, based on the terms negotiated in the real estate contract. Different types of Sacramento California Closing Statements may exist depending on the type of real estate transaction being conducted. Some common variations include: 1. Residential Closing Statement: This type of closing statement is used when a single-family home, condominium, townhouse, or any other residential property is being bought or sold in Sacramento, California. 2. Commercial Closing Statement: This closing statement is specifically designed for commercial real estate transactions, involving properties such as office buildings, retail spaces, warehouses, or any other income-generating property in Sacramento, California. 3. Refinance Closing Statement: In case of refinancing an existing mortgage, this closing statement summarizes the new loan terms, interest rates, and any associated fees or costs. 4. Short Sale Closing Statement: If a property is being sold as a short sale, where the proceeds are less than the outstanding mortgage balance, a specialized closing statement is prepared to outline the negotiated terms between the homeowner, buyer, and lender. 5. Cash Closing Statement: This closing statement is utilized when the real estate transaction is completed without the involvement of a mortgage. It details the cash payment from the buyer to the seller, without the inclusion of a loan. In conclusion, the Sacramento California Closing Statement is an essential document in any real estate transaction in the region. It provides a comprehensive breakdown of all the financial aspects involved, ensuring transparency and a clear understanding of the financial obligations for all parties involved.
