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Final Statement on Real Property Sale by Broker (Type 1)

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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