Escrow & Title
A South Carolina closing attorney prepares a 'HUD-1 equivalent' or Closing Disclosure showing the seller's side. What is a typical credit to the seller?
AThe mortgage payoff amount
BThe purchase price✓ Correct
CReal estate commission
DProperty taxes owed
Explanation
The purchase price is the primary credit to the seller on the closing statement. All other items (mortgage payoff, commissions, taxes) are typically debits (charges) from the seller's proceeds.
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