Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. need help filling out this closing disclosure! a b

Need help filling out this closing disclosure! A buyer is purchasing a home...

80.2K

Verified Solution

Question

Accounting

image

Need help filling out this closing disclosure! A buyer is purchasing a home for $200,000. The closing date is on June 15,2021 and the buyer is responsible for all costs on the closing date. The buyer provided $5,000 as a deposit that is being held in escrow and is obtaining a loan for $180,000. The seller has a mortgage on the property with an outstanding balance of $92,000. Total settlement charges for the buyer is $7,200 and for the seller is $12,000. The county taxes for 2021 are due on November 1 and have not been paid. The total county tax amount due for the year is $4,380. The home inspection report indicated the A/C unit will need repaired and the seller has agreed to provide a $1,000 credit to the buyer, which the lender has approved. Use Page 3 of the closing disclosure to account for the information above and upload this page to be graded in Module 15 quiz if you are selecting the asynchronous option. There should be 21 numbers on this page and each number will count for one point with the opportunity for one extra credit point. na

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

initial temperature = 24.3 degree celcuis final temperature = 35.7 degree celcuis 50.0 ml of 0.740 M...

Programming
1.2K views

Urgent Please Explain and show the difference between IEEE 16, 32, 64, 128-bit floating-point numbers.

Accounting
1.2K views

The following information concerns several of the inventory items at DC’s: Description Quantity Unit Cost Net Realizable Value Department A: Model DC...

Biology
1.2K views

The universe tends to move to a state of entropy or

Biology
1.2K views

The genocide in Rwanda ended when all of these answers are correct the UN peacekeepers...

Physics
1.2K views

Velocity of a body of mass 2 kg moving in xy plane 21 4t m...

Basic Math
1.2K views

A typical bingo card is shown on the right The numbers 1 15 are found...

Accounting
1.2K views

70 percent collected in the month of sale. 15 percent collected in the first month...

Accounting
1.2K views

Please help solve this problem. Power Drive Corporation designs and produces a line of...

Accounting
1.2K views

Presented below are the 2018 income statement and comparative balance sheets for Santana Industries. SANTANA...

Accounting
1.2K views

Jemima's Outfits has a store in Dixie Outlet Mall. Jemima's Outfits specializes in high-class ladies...

Finance
1.2K views

mat View Window Help FIN330-SP2021A-X#1-Partlv.docx Locked OD 10 Times New Rom. Regular 12 10 ....