Which person is typically responsible for preparing the Seller's closing statement?

Which person is typically responsible for preparing the Seller's closing statement?

• A. Escrow Officer
• B. Designated Listing Broker
• C. Lender
• D. Buyer’s Agent

Answer: (B)

The designated listing broker handles the Seller's closing statement because this document lays out the seller's net proceeds and all seller-focused charges, and it’s the seller’s representative who ensures these figures reflect the terms of the listing agreement and the purchase contract. The broker gathers and verifies items like the commission, prorations for taxes and HOA dues, payoff of any existing loan, credits owed to the seller, and other deductions or credits, so the seller clearly sees what they’ll receive at closing. They then coordinate with the escrow or closing officer to finalize and deliver the statement. The escrow officer handles the mechanics of closing, but the broker takes the lead on compiling the seller’s side to protect the seller’s interests. The lender and buyer’s agent aren’t responsible for preparing the seller’s closing statement, as their roles are focused on financing and representing the buyer, respectively.

The designated listing broker handles the Seller's closing statement because this document lays out the seller's net proceeds and all seller-focused charges, and it’s the seller’s representative who ensures these figures reflect the terms of the listing agreement and the purchase contract. The broker gathers and verifies items like the commission, prorations for taxes and HOA dues, payoff of any existing loan, credits owed to the seller, and other deductions or credits, so the seller clearly sees what they’ll receive at closing. They then coordinate with the escrow or closing officer to finalize and deliver the statement. The escrow officer handles the mechanics of closing, but the broker takes the lead on compiling the seller’s side to protect the seller’s interests. The lender and buyer’s agent aren’t responsible for preparing the seller’s closing statement, as their roles are focused on financing and representing the buyer, respectively.