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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.
FINAL STATEMENT ON REAL PROPERTY
SALE BY BROKER – (TYPE 1)Property location: ______________________________ Date: ___________________ Seller: _________________________ Address: ______________________________ Buyer: _________________________ Address: ______________________________ Attorneys: ____________________________ Date of Closing: __________________ Date of Sale Contract: __________________ Place of Closing: __________________
Due Seller Credit Buyer
Sale Price: $ _____________________ __________
Down Payment: $_________________ __________ __________
Subject to First Mortgage
Principal: $ _________ Interest: $ _____ __________ __________
Subject to Second Mortgage
Principal: $__________ Interest: $_____ __________ __________
Subject to Land Contract
Principal: $ __________ Interest: $ ____ __________ __________
Delinquent Taxes (if assumed)
for Years _______________ __________ __________
Tax Adjustment: ___ (Year),
prorated from ____ to ____
(Last Years Tax: $________) __________ __________
Future Installments of Special
Assessments (if assumed): _____ __________ __________
Insurance Premiums prorated _______ __________ __________
Rent prorated _______________ __________ __________Coal: _________ tons, $ ______________
Oil: __________ gals. $ ______________
Recording Fees: __________________ __________ __________
Documentary Stamps: ____________ __________ __________
Allowances for: __________________ __________ __________
TOTAL __________ __________LESS CREDIT TO BUYER ____________________
BALANCE DUE SELLER ____________________BALANCE OF $ ___________________ DUE SELLER AS FOLLOWS:
Land Contract Mortgage executed this day to
Seller: ___________________________ __________
Check or Cash to balance: __________ __________
TOTAL __________ ________________________________________________
(Signature of broker)______________________________________
(Signature of buyer)______________________________________
(Signature of seller)