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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Sample Template Preview

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)