Escrow & Title
Which of the following would appear as a buyer's debit on a closing disclosure?
AThe sales price✓ Correct
BThe buyer's earnest money deposit
CThe seller's outstanding mortgage balance
DProperty taxes prepaid by the seller
Explanation
The sales price is a debit (charge) to the buyer and a credit to the seller on the closing disclosure. Debits are what the buyer owes; credits are what the seller receives.
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