Buyer Closing Statement Assignment This activity relates to Unit 14 of your text. You are to prepare a buyer closing statement to show the amount of money the buyer will need to bring to the closing, or the money due to buyer at closing. Some of the statement is already filled in. Your are to fill in the rest of the statement, researching data where necessary. The appropriate totals will change as you enter data. This activity is to determine ability to pro-rate and to debit or credit the buyer appropriately. This was discussed in class, and is outlined in your text Unit 14. Upload your spreadsheet into Canvas. Scenario - Buyers: Rebecca Short and Wendy Strong - Property: Single family home - Purchase price: $267,000 - Earnest money paid to broker now has been transferred to closing agent: $2,500.00 - Real Estate tax in 2022, (paid in 2023): \$1,353. Parties agreed to pro-rate taxes based on the 2021 tax bill. Use a 365 day year. - Closing date is November 26, 2022 - New loan taken out by buyers: $257,740 - Seller agreed to a general concession of $850 due to some items found in the home inspection - Appraisal fee to be paid by buyer to obtain loan: $400 - Homeowners insurance for upcoming year paid by buyer at closing $1,315 - Recording fees paid by Buyer to county for recording mortgage and deed: $112.00 - Buyers closing fee to title company: $425 - Inspection the day before closing indicated there was oil remaining in the heating oil tank. The parties agreed the tank was approximately 50% full. Tank capacity is 1,000 gallons. You'll need to find today's price for home heating oil and prorate accordingly. Ruivar Clncinn Stratamant