Cheat Sheet: Print this page to help yourself answer the quiz that follows - it is very important that you understand all of the issues on this form. While you will not have to fill out a complete settlement statement on the actual state examination, you will have to understand why issues are a debit or a credit to the buyer or seller.
| Settlement Date | Buyer's Statement | Seller's Statement: | ||
| Closing Date: | Debit | Credit | Debit | Credit |
| Sales Price | x | x | ||
| Seller's Loan | x | |||
| Seller's Interest | x | |||
| Seller's Prepayment | x | |||
| Commission | x | |||
| Other Seller's Charges** | x | |||
| Earnest Money | x | |||
| Buyer's Loan - New | x | |||
If taxes have been paid, then credit seller, and debit buyer.
Listings expire on the day of closing.
Legal descriptions include lot, block, subdivision, county, city, and state.
