Closing Disclosure Form for Problem 8

Shaded cells are for you to fit in

Date

Borrower's tranaction

Due from borrower at closing

[Sale price of propety

Closing Costs Paid at Closing (J

Adjustments for items paid by seller in advance

Taxes

Assessments

Homeowners insurance (if assumed by buyer)

Gross Amount Due From Borrower

Adjustments for Items Paid by Seller in Advance

City Taxes

County taxes

Assessments

Paid Already by or on Behalf of Borrower at Closing

Deposit

New Loan

Existing Loan Assumed

Second mortgage from seller

Adjustments for items unpaid by seller

Adjustments for Items Paid by Seller in Advance

City Taxes

County taxes

Assessments

Rents collected but owed to buyer

Interest on loan assumption

Total Paid by/For Borrower (K)

[Cash at Settement from borrower

Total Due from Borrower at closing (K)

[Total paid already or on behalf of borrower at closing (L)

Cash from Borrower

$0.00

$0.00

$0.00

If loan assumption, there will be interest unpaid by the seller. this would be from the first of the month to the date of closing.

[Loan balance would be amount paid on behalf of borrower and reductions in amount due to seller

Seller's Transaction

Due to seller at Closing

Sale price of propety

Adjustments for items pald by seller in advance

Taxes

Assessments

[Homeowners insurance (if assumed by buyer)

Gross Amount Due to Seller

Adjustments for items Paid by Seller in Advance

City Taxes

County taxes

Assessments

Gross Amount Due to Seller at Closing

Reductions in Amount Due to Seller

Closing Costs Paid at Closing (J)

Existing Loan Assumed

Second mortgage from seller

Adjustments for items unpaid by seller

Adjustments for Items Paid by Seller in Advance

City Taxes

County taxes

Assessments

Rents collected but owed to buyer

[Interest on loan assumption

Total Reduction Amount Due Seller

[Cash at Settlement to Seller

Total Due to Seller at Closing less reductions in amount due seller

Cash to Seller

$0.00

$0.00

50.00

$0.00

Closing Costs Details

[Loan

Origination Fee

Discount loan fees

Appraisal Fee

Crodit report

Fbod Cerification

Survey

Structure Inspection

Recording Fees

Deed

Mortgage

Transfer Tax Deed

Mortgage note stamp tax

Mortgage intangible tax

Total Closing Costs (J

Abstract

b. Reuben paid a hazard insurance policy for the calendar year 2023 . The premiur was $850, and Eric has agreed to purchase Reuben's interest in the policy. c. The monthly rental of $1,250 has been collected by Reuben for June. d. The total amount of property tax for 2023 is estimated to be $2,200. The tax will be paid by Eric at the end of the year. e. The broker will pay the following expenses for Reuben and will be reimbursed at the closing: f. The broker will also pay the following expenses for Eric and will be reimbursed at the closing: b. Reuben paid a hazard insurance policy for the calendar year 2023 . The premiur was $850, and Eric has agreed to purchase Reuben's interest in the policy. c. The monthly rental of $1,250 has been collected by Reuben for June. d. The total amount of property tax for 2023 is estimated to be $2,200. The tax will be paid by Eric at the end of the year. e. The broker will pay the following expenses for Reuben and will be reimbursed at the closing: f. The broker will also pay the following expenses for Eric and will be reimbursed at the closing