Escrow & Title
A Florida closing statement shows a 'debit' to the seller. This means:
AThe seller is owed money by the buyer
BThe seller must pay or an amount is deducted from the seller's proceeds✓ Correct
CThe seller made a mistake in the contract
DThe seller receives a credit from the buyer
Explanation
On a Florida closing statement, a 'debit' to the seller represents a charge or deduction from the seller's proceeds. Common seller debits include the outstanding mortgage payoff, commissions, doc stamps, and prorated taxes.
Related Florida Escrow & Title Questions
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