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| Rick Lorenz, ABR CRS and his team | |
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This closing statement was for a home. Even paying 1/2 a point, note that by closing at the end of the month how low the closing costs were. |
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Settlement Date: |
5/31/00 |
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Proration Date: |
5/30/00 |
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DEBITS (charges) |
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Purchase Price |
$329,000.00 |
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Loan Origination Fee for Bank |
$1,645.00 |
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Appraisal Fee for Bank |
$325.00 |
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Flood Determination for Bank |
$20.00 |
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Upfront Release Fee for Bank |
$15.00 |
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Hazard Insurance Premium 1 Year in advance |
$457.00 |
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Title Co. Closing Fee (1/2) |
$100.00 |
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Title Insurance (for Bank) |
$130.00 |
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Tax Certificate |
$15.00 |
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Recording Fees |
$35.00 |
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State Tax/Stamps |
$32.90 |
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Gross Amount Due From Buyer |
$331,774.90 |
Note: total closing costs were $2,774.90 |
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CREDITS |
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Earnest Money Deposit |
$5,000.00 |
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Principal Amount of New Loan |
$329,000.00 |
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County Taxes 1/1/00 - 5/31/00 748.58/366 days x 151 days = |
$308.84 |
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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Less Total Credits to Buyer |
$334,308.84 |
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BALANCE |
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Gross Amount Due from Buyer |
$331,774.90 |
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Less Total Credits to Buyer |
$334,308.84 |
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AMOUNT DUE FROM BUYER |
$2,533.94 |
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