The Buyer's Closing Statement

The buyer's closing statement will reflect the buyer's side of the transaction. The following is a summary of typical debit and credit items on the buyer's closing statement:

Debits (charges):

• Purchase price
• Title insurance
• Escrow fees
• Loan fees
• Hazard insurance
• Prorations
• Inspection fees
• Recording fees

Credits (payments):

• Deposits (earnest money, etc.)
• Loans (new)
• Assumption of existing loan
• Prorations
• Miscellaneous payments

The Seller's Closing Statement

The seller's closing statement will reflect the seller's side of the transaction. The following is a summary of typical debit and credit items on the seller's closing statement:

Debits (charges):

• Existing loan(s) and payoff(s)
• Escrow fees
• Prorations
• Reconveyance fees
• Brokerage fees
• Home warranty insurance premiums

Credits (payments):

• Sales price
• Prorations