Escrow & Title
Which of the following would appear on a buyer's closing statement as a debit (charge to buyer)?
AEarnest money deposit previously paid
BThe purchase price of the property✓ Correct
CThe seller's mortgage payoff
DReal estate commission
Explanation
The purchase price is a debit to the buyer (what the buyer owes at closing). Credits to the buyer include the earnest money deposit already paid and the new mortgage loan proceeds.
Related Delaware Escrow & Title Questions
- An abstract of title is:
- A special warranty deed in Delaware warrants title only against defects arising:
- What is the 'doctrine of merger' in Delaware real estate transactions?
- What is 'gap coverage' in Delaware title insurance?
- In Delaware, who typically conducts the real estate closing?
- What is a 'non-disturbance agreement' (NDA) in Delaware commercial leasing?
- What is a 'condominium rider' or 'PUD rider' in a Delaware mortgage?
- What is a 'mortgagee clause' in a Delaware property insurance policy?
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →