Real Estate Math
A North Dakota buyer's credit from the seller at closing is $4,500. How does this appear on the buyer's side of the closing statement?
AAs a debit
BAs a credit✓ Correct
CIt is not shown on the closing statement
DAs both a debit and a credit
Explanation
A seller credit to the buyer appears as a credit on the buyer's side of the closing statement (reduces the amount the buyer must bring to closing) and as a debit on the seller's side (reduces the seller's net proceeds).
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