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NY 031 Closing Statement Fidelity National Title Insurance Company of New York ADMINISTRATIVE OFFICES NATIONAL & COMMERCIAL DIVISION BRANCH OFFICE BRONX KINGS NEW YORK RICHMOND COUNTIES ONE PARK AVENUE

How to fill out ny 031 closing statment

How to fill out NY 031 closing statement:

1. Start by gathering all necessary information and documents related to the transaction, such as the sales contract, loan information, and any relevant financial statements.
2. Begin by entering the date at the top of the form, along with the names and contact information of all parties involved in the transaction, including the buyer, seller, and any attorneys or agents representing them.
3. Next, fill out the property details section, including the address of the property being sold and a legal description if applicable.
4. Enter the total purchase price, along with any adjustments or prorations for items such as property taxes or HOA fees. Make sure to calculate these amounts accurately to ensure an accurate closing statement.
5. List any deposits or earnest money paid by the buyer and indicate whether they will be credited towards the purchase price or refunded.
6. Include any prorated expenses such as property taxes, insurance premiums, or utility bills. Calculate these amounts carefully based on the agreed-upon dates of possession and closing.
7. Deduct any agreed-upon seller concessions or credits, such as repairs or financial incentives, from the total purchase price.
8. Calculate the final amount due from the buyer, taking into account their down payment, mortgage financing, and any other credits or adjustments.
9. If there are any outstanding liens or mortgages on the property, indicate the amount that will be paid off or satisfied at closing.
10. Finally, provide a breakdown of the closing costs, including fees for attorneys, title insurance, recording fees, and any other charges. Ensure that all costs are allocated correctly between the buyer and seller.

Who needs NY 031 closing statement:

1. Real estate agents or brokers involved in the transaction.
2. Buyers and sellers who want a clear and detailed breakdown of the financial aspects of the closing.
3. Attorneys representing the buyer or seller.
4. Lenders or mortgage companies who require an accurate closing statement for loan approval.

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What is ny 031 closing statement?

The NY 031 closing statement is a form used to report information about the dissolution or termination of a business entity in New York.

Who is required to file ny 031 closing statement?

Any business entity that is closing or terminating its operations in New York is required to file the NY 031 closing statement.

How to fill out ny 031 closing statement?

The NY 031 closing statement can be filled out online on the New York Department of State website or by submitting a paper form by mail.

What is the purpose of ny 031 closing statement?

The purpose of the NY 031 closing statement is to inform the state of New York that a business entity is closing or terminating its operations.

What information must be reported on ny 031 closing statement?

The NY 031 closing statement requires information about the business entity, its directors or officers, and the reason for the closure or termination.