Escrow & Title
In South Dakota, a closing statement shows the seller's net proceeds. To calculate net proceeds, which of the following is ADDED to the seller's side?
AReal estate commission
BUnpaid property taxes owed by the seller (proration)
CSale price✓ Correct
DMortgage payoff balance
Explanation
The sale price is a credit (addition) to the seller's side of the closing statement. Commissions, mortgage payoffs, and seller's prorated tax obligations are debits (subtractions) from the seller's side.
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