Both the seller and buyer anticipate the day of closing. It’s the day the buyer will own their Des Moines Iowa Real Estate and the seller will receive their money. As the seller and buyer you will want to know what to expect and how to read the Settlement Statement.
The Settlement Statement is prepared by the closing attorney. This statement will show a breakdown of the money received and paid. As the seller, you will want to bring with you some identification and the deed of the Des Moines Iowa Home, so the transfer can be made.
If you, the seller, have found that there is money remaining in the escrow account, you will be receiving this after the closing day.
Once you know what the statement is trying to say and where to look for certain details, you’ll have a better understanding. The right side of the page will include the buyer’s dues towards the purchase of the Des Moines Real Estate House. This will include the money that owed to the seller, the closing costs, the earnest money that was already paid, and the yearly property tax.
The left side will list the seller’s amount that they will receive and also pay. The seller will not receive any of the closing costs; this amount will go to the services that were provided to close on the Des Moines Iowa Home. The part the seller will need to pay, if applicable, is the mortgage pay off.
There will be a grand total on the buyer’s side that is due; this is considered the down payment. The total on the seller’s side is the amount the seller will receive as profit for the sale of his Des Moines Iowa Real Estate.
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