Overland Park Kansas Closing Statement

• Category: Kansas Real Estate - Closings
• State: Kansas
• City: Overland Park
• Control #: KS-CLOSE3
• Format: Word; Rich Text

Description

This Closing Statement is for a real estate transaction where the transaction is a cash sale or provides for owner financing. This settlement statement is verified and signed by both the seller and the buyer. Overland Park Kansas Closing Statement is a legal document usually prepared during the final stage of a real estate transaction in Overland Park, Kansas. It serves as a comprehensive summary of the financial aspects of the transaction and outlines the final figures and terms agreed upon by the buyer and seller before officially transferring ownership of the property. Keywords: Overland Park, Kansas, closing statement, real estate transaction, final stage, financial aspects, buyer, seller, transfer ownership, property. There are two different types of Overland Park Kansas Closing Statements commonly used: 1. Buyer's Closing Statement: This type of closing statement is prepared from the buyer's perspective and provides a breakdown of all the costs they are responsible for paying. It itemizes expenses such as the purchase price, loan origination fees, appraisal fees, title insurance, home inspections, and any additional closing costs. The buyer's closing statement also includes information about the amount needed for the down payment and any prorated expenses, such as property taxes or insurance premiums. Keywords: buyer's closing statement, costs, purchase price, loan origination fees, appraisal fees, title insurance, home inspections, closing costs, down payment, prorated expenses. 2. Seller's Closing Statement: The seller's closing statement details the financial obligations and proceeds for the seller. It itemizes expenses such as real estate commissions, attorney fees, outstanding mortgage balance, property taxes, and any credits or adjustments agreed upon during negotiations. The seller's closing statement also lists the net proceeds that the seller will receive from the sale of the property. Keywords: seller's closing statement, financial obligations, proceeds, real estate commissions, attorney fees, outstanding mortgage balance, property taxes, credits, adjustments, net proceeds. Both types of closing statements are crucial in ensuring a transparent and legally sound real estate transaction in Overland Park, Kansas. They provide a clear breakdown of the financial aspects involved and protect the rights and interests of both buyers and sellers.

Overland Park Kansas Closing Statement is a legal document usually prepared during the final stage of a real estate transaction in Overland Park, Kansas. It serves as a comprehensive summary of the financial aspects of the transaction and outlines the final figures and terms agreed upon by the buyer and seller before officially transferring ownership of the property. Keywords: Overland Park, Kansas, closing statement, real estate transaction, final stage, financial aspects, buyer, seller, transfer ownership, property. There are two different types of Overland Park Kansas Closing Statements commonly used: 1. Buyer's Closing Statement: This type of closing statement is prepared from the buyer's perspective and provides a breakdown of all the costs they are responsible for paying. It itemizes expenses such as the purchase price, loan origination fees, appraisal fees, title insurance, home inspections, and any additional closing costs. The buyer's closing statement also includes information about the amount needed for the down payment and any prorated expenses, such as property taxes or insurance premiums. Keywords: buyer's closing statement, costs, purchase price, loan origination fees, appraisal fees, title insurance, home inspections, closing costs, down payment, prorated expenses. 2. Seller's Closing Statement: The seller's closing statement details the financial obligations and proceeds for the seller. It itemizes expenses such as real estate commissions, attorney fees, outstanding mortgage balance, property taxes, and any credits or adjustments agreed upon during negotiations. The seller's closing statement also lists the net proceeds that the seller will receive from the sale of the property. Keywords: seller's closing statement, financial obligations, proceeds, real estate commissions, attorney fees, outstanding mortgage balance, property taxes, credits, adjustments, net proceeds. Both types of closing statements are crucial in ensuring a transparent and legally sound real estate transaction in Overland Park, Kansas. They provide a clear breakdown of the financial aspects involved and protect the rights and interests of both buyers and sellers.