Using the information provided below, calculate the buyer's and seller's costs and credits as they would appear on the Closing Disclosure Form (CDF). You may simply list the debits (charges) and credits (additions) to both buyer and seller and the total amount due to/from each party in a MS Office Word or Excel document. The goal is to come up with the amount the Buyer needs to bring to closing, and the amount the Seller would receive at closing. When calculating these costs, the complications can occur when you figure the taxes and shared lender fees, etc. Property located in Virginia Closing Date: October 15 First payment due: December 1 Sales Price: $280,000 Earnest money deposit: $5,000 Down payment: $56,000 Existing loan to be paid off: $125,000 @ 4.75% interest New loan amount: $220,000 @ 4.50% interest, for 30 years Total of three points, split by buyer and seller Escrow (impound) of two months Annual property taxes: $2,400, paid through December 31 Hazard insurance: $330 for one-year policy Real estate broker commission: 6 percent Owner's title policy: $250 Lenders title policy: $750 Survey $125 Recording fees charged to buyer: $75 Lender fees charged to buyer: $1,100 Transfer tax: $180 paid by seller Termite inspection: $125 Roof inspection & repair: $2,100 Homeowner warranty provided by seller: $500