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| Rick Lorenz, ABR CRS and his team | |
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This closing statement is for a piece of vacant land were the seller carried back a first trust deed (like a mortgage). |
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Settlement Date: |
2/2/01 |
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Proration Date: |
2/1/01 |
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DEBITS (charges) |
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Purchase Price |
$215,000.00 |
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Title Co. Closing Fee |
$75.00 |
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Attorney Fees |
$275.00 |
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Home Owners Assoc. Fees 2/2 to 4/1 |
$109.68 |
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Title Insurance (For loan carried back by seller) |
$85.00 |
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Tax Certificate |
$15.00 |
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FedEx Fees |
$20.00 |
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Recording Fees |
$25.00 |
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State Tax/Stamps |
$21.50 |
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Collection Fees (To set up an escrow collection for the payments on the first mortgage carried back by the seller) |
$75.00 |
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Gross Amount Due From Buyer |
$215,701.18 |
Note: total closing costs were $701.18 |
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CREDITS |
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Earnest Money Deposit |
$10,000.00 |
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Owner Carry Note |
$115,000.00 |
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County Taxes 1/1/01 - 2/2/01 2,858.12/365 days x 32 days = |
$250.57 |
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 |
$125,250.57 |
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BALANCE |
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Gross Amount Due from Buyer |
$215,701.18 |
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Less Total Credits to Buyer |
$125,250.57 |
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AMOUNT DUE FROM BUYER |
$90,450.61 |
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