Final Statement on Real Property Sale by Broker (Type 1)
byadminonOctober 18, 2011
The Format of Final Statement by a Broker
A broker is often a mediator when property is bought and sold among two persons or groups of persons. Once the broker buys the property from the seller, he is supposed to issue a final statement. The final statement can be of two types and one of the types is described below.
First of all, the location of the property has to be mentioned in the statement followed by the date on which the agreement was signed.
Next, the name of the seller has to be mentioned followed by his or her address.
Next comes the address of the buyer followed by his or her address.
In the final statement on real property sale by broker (Type 1), the name of the attorneys has to be mentioned after the buyer’s address.
Next field has to be about the date of closing followed by the date of sale contract.
Place of closing also needs to be mentioned right after mentioning the date of closing.
Price at which the property is sold followed by down payment is another point to be included in the final statement by a broker.
Subject to first and second mortgage along with principal amount and interest rate should also be the part of the final statement.
There should also be a field for subject to land contract where principal amount and interest rate has to be mentioned.
Separate fields for delinquent taxes, recording fees, documentary stamps, allowances for and total should also be there in the final statement by the buyer.
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