Given the following information, calculate the closing statement for buyer and seller: Closing date: September 15, 2016 Sale price: $123,000 New mortgage: $90,000, 7% interest rate, 30 years Earnest money: $3,000 RE taxes: $1,680/year payable 5/15 and 10/15 (seller owes 2.5 months tax) Sales commission 6% State deed tax: $3.30 per $1,000 of the sales price Mortgage registration tax $2.30 per $1,000 of the mortgage Buyer closing costs: $2,000

Buyers closing statement Debits (Debt) - You owe Credits already paid/someone else pays/$ due to you 1.1.1. Purchase price Earnest money Mortgage- Principal Interest 9/15-9/30 (16 days) Mortgage registration taxe Real estate taxes Closing Costs Subtotals Amount due from buyer Totalse LILI T. 1 1. 1 1. 1. TIL Sellers closing statement Debits Credits [ Sale price Real estate taxes Commission State deed taxe Subtotalse Amount due to buyer Totalse Buyers closing statement Debits (Debt) - You owe Credits already paid/someone else pays/$ due to you 1.1.1. Purchase price Earnest money Mortgage- Principal Interest 9/15-9/30 (16 days) Mortgage registration taxe Real estate taxes Closing Costs Subtotals Amount due from buyer Totalse LILI T. 1 1. 1 1. 1. TIL Sellers closing statement Debits Credits [ Sale price Real estate taxes Commission State deed taxe Subtotalse Amount due to buyer Totalse