Professional Real Estate Buyer’s Closing Statement

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Date: 12/09/2055

Buyer’s Name: Leontius Falkner
Buyer’s Address: 3478 Sparrow Ridge Drive
City, State, ZIP Code: Austin, TX 73301

Seller’s Name: Octavia Mercer
Seller’s Address: 1290 Birchwood Path
City, State, ZIP Code: Austin, TX 73301

Property Address:
2506 Falcon View Lane
Austin, TX 73301

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CLOSING STATEMENT

Transaction Details

• Contract Date: 11/01/2055

• Closing Date: 12/15/2055

• Sale Price: $520,000

• Property Type: Single-Family Home

• Financing Method: Conventional Loan (20% Down Payment)

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BUYER'S COSTS

1. Purchase Price:

   • $520,000

2. Closing Costs:

   • Title Insurance: $1,250

   • Appraisal Fee: $500

   • Inspection Fees: $400

   • Loan Origination Fee: $2,750

   • Credit Report Fee: $100

   • Escrow Fees: $650

   • Attorney Fees: $450

   • Recording Fees: $175

   • Other (Document Preparation Fee): $225

   Subtotal Buyer’s Closing Costs: $6,850

3. Prorated Costs (Buyer’s Portion):

   • Property Taxes (for December 2055): $520

   • Homeowner’s Association Fees (for December 2055): $275

   • Utility Adjustments (for December 2055): $125

4. Down Payment (Buyer’s Contribution):

   • 20% of Purchase Price: $104,000

5. Loan Amount (Buyer’s Financing):

   • 80% of Purchase Price: $416,000

6. Other Buyer Contributions:

   • Seller Credit Towards Closing Costs: $4,000

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TOTAL AMOUNT DUE FROM BUYER

Total Amount Due at Closing:

• $6,850 (Closing Costs) + $104,000 (Down Payment) - $4,000 (Seller Credit)

• Total Due from Buyer: $106,850

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SELLER’S COSTS

1. Seller's Closing Costs

   • Real Estate Agent Commission (Buyer’s and Seller’s side): $31,200 (6% of Sale Price)

   • Seller’s Attorney Fees: $1,700

   • Seller’s Title Insurance: $1,300

   • Repairs (Seller’s Agreed Contributions): $3,500

   • Other Seller Costs: $600

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CREDIT AND DEBIT SUMMARY

1. Total Debits to Buyer:

   • $106,850 (Total Due from Buyer)

2. Total Credits to Buyer:

   • $4,000 (Seller Credit Towards Closing Costs)

3. Balance Due from Buyer at Closing:

   • $106,850

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NOTES AND TERMS

• Contingencies: All contingencies for the inspection and appraisal have been cleared.

• Escrow Instructions: Buyer is required to deposit $106,850 into the escrow account by 12/14/2055 for the closing on 12/15/2055.

• Home Warranty (if applicable): Seller will provide a 1-year home warranty, which will be transferred to the buyer at closing.

• Other Terms: Buyer agrees to maintain the insurance policy as specified in the loan agreement, effective from the closing date.

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Acknowledgment:

I, Leontius Falkner, acknowledge the terms outlined in this closing statement and confirm the amounts stated above are correct. I agree to proceed with the closing process based on the outlined terms.

Signature:

Leontius Falkner
Date: 12/09/2055

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Prepared by:

[Your Name]
Closing Agent
Prestige Realty Services

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