Escrow & Title
In South Dakota, which of the following typically appears as a 'credit to buyer' on the closing settlement statement?
AThe buyer's earnest money deposit already paid toward the purchase✓ Correct
BThe real estate commission paid by the seller
CThe buyer's down payment
DThe buyer's title insurance premium
Explanation
The earnest money previously deposited by the buyer is a credit to the buyer on the settlement statement — it has already been paid and reduces the amount the buyer must bring to closing. Commissions are debits to the seller; the down payment is what the buyer pays at closing; title insurance is a buyer's debit.
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