Buyer		Seller
	Debit	Credit	Debit	Credit
Sale price
Earnest money
Loan amount
Points
Prepaid interest
Tax/insurance escrow
Hazard insurance
Real estate taxes
Brokers commissions
Title insurance
Escrow fee
Recording fee
Transfer tax
TOTALS
CREDITS
(DEBITS)
RECEIVABLE OR (PAYABLE)

Use the following data and attached worksheet to answer the following questions: Closing Date (day belongs to the Seller): September 1 (day 244 of the year) Selling Price: $262,500 Earnest Money: $3,600 Buyer's loan Amount: $236,250 (90% LTV; 30-year term; 5% annual interest) Points (Buyer pays): 2 points (a point is 1% of the loan amount) Monthly payment on Buyer's new loan: $1,268.24 (includes first month interest of $984.37). Prepaid interest will cover September 2 - Septembe. " Font The Lender is requiring Buyer to put into Escrow one-half of next year's expected property insurance and taxes. Existing property insurance: $700 (paid by Seller for the entire year). Expected property insurance for the next year: $700. Current year Property Tax: $3,300 (will be billed to Buyer next year). Broker's Commission (Seller pays): 6% Lender's Title Insurance (Buyer pays): $250 Escrow Fee (Buyer and Seller will share equally): $500 Recording Fee (Buyer pays): $25 Transfer Tax (Seller pays): $481 Use the following data and attached worksheet to answer the following questions: Closing Date (day belongs to the Seller): September 1 (day 244 of the year) Selling Price: $262,500 Earnest Money: $3,600 Buyer's loan Amount: $236,250 (90% LTV; 30-year term; 5% annual interest) Points (Buyer pays): 2 points (a point is 1% of the loan amount) Monthly payment on Buyer's new loan: $1,268.24 (includes first month interest of $984.37). Prepaid interest will cover September 2 - Septembe. " Font The Lender is requiring Buyer to put into Escrow one-half of next year's expected property insurance and taxes. Existing property insurance: $700 (paid by Seller for the entire year). Expected property insurance for the next year: $700. Current year Property Tax: $3,300 (will be billed to Buyer next year). Broker's Commission (Seller pays): 6% Lender's Title Insurance (Buyer pays): $250 Escrow Fee (Buyer and Seller will share equally): $500 Recording Fee (Buyer pays): $25 Transfer Tax (Seller pays): $481