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FINAL STATEMENT ON SALE OF REAL PROPERTY BY BROKER (TYPE 2)Charged Seller Cash Balance received from buyer: Down Payments: Charges Against Seller Abstract Extension or Title Policy: Recording Fees:
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How to fill out final statement on sale
How to fill out final statement on sale
01
Step 1: Gather all necessary information and documents related to the sale, such as the purchase agreement, real estate details, and financial statements.
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Step 2: Start by entering the date of the final statement at the top of the document.
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Step 3: Provide the buyer's name and address, as well as the seller's name and address.
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Step 4: List the details of the property being sold, including the address, legal description, and any relevant identification numbers.
05
Step 5: Include the purchase price and any adjustments or credits that may apply.
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Step 6: Calculate and include any pro-rated taxes, fees, or expenses that need to be accounted for in the final statement.
07
Step 7: If there are any outstanding loans or mortgages on the property, determine the payoff amount and include it in the statement.
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Step 8: Subtract any agreed-upon seller concessions or costs that the buyer will assume from the total amount.
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Step 9: Calculate the net amount due to the seller and include it in the final statement.
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Step 10: Add any additional disclosures or terms that may be required by law or the specific sale agreement.
11
Step 11: Have both parties review and sign the final statement on sale.
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Step 12: Make copies of the completed statement for all parties involved and retain them for future reference.
Who needs final statement on sale?
01
Any individual or entity involved in a real estate transaction where a property is being sold needs a final statement on sale.
02
This includes buyers, sellers, real estate agents, attorneys, and lenders who want to have a clear and comprehensive record of the financial details of the sale.
03
The final statement on sale is an essential document for accounting purposes, tax reporting, and legal compliance.
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What is final statement on sale?
A final statement on sale is a document that provides detailed information about the sale of a property, including the final purchase price and any relevant financial details.
Who is required to file final statement on sale?
Individuals or entities involved in the sale of a property, such as sellers, buyers, and real estate agents, are required to file a final statement on sale.
How to fill out final statement on sale?
Final statements on sale can typically be filled out online through the appropriate state or local government website. All required information should be accurately provided.
What is the purpose of final statement on sale?
The purpose of a final statement on sale is to document the financial details of a property sale for tax and legal purposes.
What information must be reported on final statement on sale?
Information such as the final purchase price, any mortgage details, property taxes, and any transfer taxes must be reported on a final statement on sale.
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