Contracts
A Massachusetts seller gives the buyer a $10,000 credit at closing toward repairs. How is this typically handled?
AThe seller writes the buyer a personal check
BThe credit is reflected in the closing statement, reducing the buyer's cash needed at closing✓ Correct
CThe credit is paid after closing through escrow
DThe credit must be approved by the Board of Registration
Explanation
A seller credit is typically reflected on the Closing Disclosure/Settlement Statement as a credit to the buyer, reducing the amount of cash the buyer must bring to the closing table. It does not change the sale price.
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