Escrow & Title
A Connecticut seller's net proceeds statement at closing would include a DEBIT for:
AThe purchase price
BThe outstanding mortgage payoff amount✓ Correct
CThe seller's credit for prorated taxes
DThe buyer's deposit
Explanation
The seller's net proceeds are calculated by starting with the sale price and subtracting all debits, including the outstanding mortgage payoff, broker commission, conveyance taxes, and closing costs.
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