Unveiling the Buyer's Closing Statement Essentials

By Wendy & Greg Kime

Wendy and Greg are the owners and founders of Kime Realty. Since 1993, they have helped over 2000 families with their real estate needs…servicing four counties in southeastern Michigan. Wendy and Greg are highly-respected real estate experts. Take a minute and read some of their reviews on Google and Zillow. They specialize in systematically selling homes at the top of the market, in the shortest amount of time, while eliminating hassles for their clients.

When it comes to closing on a property, navigating the financial aspects can be complex. Today, we’ll delve into the buyer’s side of closing statements, shedding light on the key components involved. The buyer’s side, often referred to as a combined altered statement, is a crucial part of the closing process. 

Feel free to watch the full message above or use these timestamps that will direct you to various points in the video.

0:00 — Introducing today’s topic

0:25 — Property Details

0:40 — Proration of Taxes

1:07 — Loan Charges

1:35 — Government Recording and Transfer Charges

2:10 — Commission

2:20 — Title Fee Charges

3:20 — Miscellaneous Fees

3:50 — Total Due at Closing

4:10 — Wrapping up

Understanding these details is crucial for anyone navigating a real estate transaction. If you have questions or need further clarification, feel free to reach out to us. We’re here to help guide you through the closing process.