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Real Estate > Closings > Flashcards

Closings Flashcards

1
Q

Credit To Buyer

A

Binder Deposit
Assumption of existing Mortgage
New PMM to seller or 3rd party
Any prorated Rent

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2
Q

Debit to buyer

A 
Doc stamps on new note 
assumption of note
intangible tax on new mortgage
recording fees 
all expenses associated with financing
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3
Q

Debit to Seller

A

Loan Payoff
Assumption of existing mortgage
brokerage commission
document stamps on deed

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Real Estate (10 decks)

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