The amount of the earnest money deposit appears in:

If property were listed for sale at $130,000 and sold for $128,500, a 6% broker's fee would appear in the seller's statement as a:

The cost of preparing a deed appears as a:

The day of closing is typically:

In a real estate transaction, the buyer obtained a loan in the amount of $160,000. The lending institution charged 1 discount point, which the buyer agreed to pay. The cost of this point appears as a:

A buyer purchased a rental property and closed the transaction on July 20. The tenant had paid rent for the month of July in the amount of $600 on July 1. The rent should be shown as:

The cost of the due diligence fee appears as a:

A property sold for $151,050. The excise tax on the transaction will appear on the closing worksheet as a:

Provided nothing is written into the contract to the contrary, a wood-destroying insect report will appear on the closing statement as a:

In a residential federally backed mortgage loan for the purchase of a property transaction, RESPA requires all of the following EXCEPT:

Which expenses are typically prorated between the buyer and the seller on the closing statement?

Which item is ALWAYS a single-sided entry?

In North Carolina, the closing meeting is typically held at the:

According to TRID, which of the following items would NOT be considered a required element of a loan application?

It is a requirement of TRID that the Loan Estimate be given to the borrower no later than three business days of the:

Rico is obtaining a mortgage of $243,250 at 5.25% interest rate with settlement to be conducted on June 26th. How will the resulting entry for the interim interest appear on a closing worksheet?

A duplex is being rented for $600 per unit and is being sold to an investor with closing to be on the 22nd of September. How will the resulting entry appear on the closing worksheet?

A property is being sold with settlement set for March 19. Property taxes for the year are estimated to be $864. How will the resulting entry appear on the settlement worksheet?

Fairley is selling her house to Marian with settlement to be conducted on October 21. The annual HOA assessment, based upon the calendar year, was levied on the property for $360 and was paid in January. How will the resulting entry appear on the closing worksheet?

Linda is selling her house to Heather with settlement scheduled for November 27th. Property taxes for the year are $ 594 and have not yet been paid. The lender is requiring the taxes to be paid at the settlement. How will the resulting entry appear of a settlement worksheet?

Matt is obtaining a mortgage loan of $178,000 at 5.5% interest. Settlement is to occur on the 27th day of the month. How will the interim interest appear on the settlement worksheet?

Gene has agreed to sell his property to Amy with settlement to be on December 11. Property taxes of $810 for the year have already been paid. How will the resulting entry appear on the settlement worksheet?

Ashley contracts to purchase August's home for $250,000 with settlement set for October 21. The lender agrees to make her a 80% LTV mortgage at 5.5% interest with 1% loan origination fee and l.5 discount points. In addition, interim interest to the end of the month must be collected. Property taxes are $2,750 for the year and the lender requires these to be paid off at the settlement. At settlement the following items must be paid by the party who would traditionally pay them: attorney fees - $950; survey - $450; deed preparation - $90; title insurance - $500; termite report - $75; commission - 6%; revenue stamps - use state rate. The buyer has paid $475 for the appraisal and $75 for the credit report at the time of the loan application. In addition the buyer has paid $2,500 in earnest money deposit and $200 in the form of the due diligence fee. How much money will Ashley need to bring to the settlement in order to close? (Round all proration entries to the nearest whole dollar amount.)

Danette has agreed to sell her house to Thomas for $319,000 and settlement to be scheduled for April 23. Thomas paid earnest money of $3,000 and an additional $1,000 as a due diligence fee with the offer. The balance due at closing on Danette's mortgage is $191,415. Terms of the agreement are for the annual property taxes of $4,032 to be prorated along with the monthly homeowners association fees of $48 that have already been paid by the seller. In addition to the above items, the settlement attorney will collect deed preparation fees of $80, recording fees $40, revenue stamps using the state rate, and the sales commission of 5%. What will be the amount the seller will receive at the settlement? (Enter all proration entries to the nearest whole dollar amount.)