Escrow & Title
In a Michigan closing, the Closing Disclosure itemizes:
AOnly the buyer's loan terms
BAll financial aspects of the transaction including credits, debits, and fees for both buyer and seller✓ Correct
COnly the seller's net proceeds
DOnly title insurance costs
Explanation
The Closing Disclosure itemizes all debits and credits for both buyer and seller, including purchase price, earnest money credit, prorations, lender fees, title insurance, transfer taxes, and net proceeds.
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