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2. Closing Statement Using the following information, prepare a settlement statement for the transaction using...

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2. Closing Statement Using the following information, prepare a settlement statement for the transaction using the chart on the next page. Carry out the computations to two decimal places until final calculation. (25 points) Buyer: Joe Burrow Seller: Wade Miley Property: 121 Main Street, Newport, KY 41222 Closing Date: December 8, 2022 Selling Price: $825,000 Earnest Money: $100,000 Brokers Commission: 6% Property taxes: $21,000 per year; this year's taxes have not been paid Financing: New Remaining loan balance for Miley: $215,000 Transfer Tax: $1.00 per $1,000 of consideration Recording Fees: $50 per document (Deed, mortgage) paid by seller Attorney's fees: $4,000 buyer; $3,500 seller Title insurance: $1900 paid by buyer Termite inspection: $700 paid by buyer Deed preparation: $250; paid by seller Settlement Statement Property Seller Buyer Settleruent Date

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