Who is responsible for the Seller's closing statement?

Who is responsible for the Seller's closing statement?

• A. The Designated Listing Broker
• B. The Buyer’s Agent
• C. The Lender
• D. The Title Company

Answer: (A)

The designated listing broker is responsible for the Seller's closing statement. In a transaction, the seller’s closing statement details all credits and debits to the seller, including the commission, loan payoffs, prorations, and the net proceeds. The designated listing broker oversees the closing for the seller and ensures the statement is prepared, explained, and delivered to the seller for review and signature. While the actual numbers are typically generated by the title company or closing agent, the broker who represents the seller bears the responsibility to coordinate, verify accuracy, and communicate the details to the seller. The buyer’s agent focuses on the buyer’s side, the lender is involved in financing but not in preparing the seller’s statement, and the title company handles the document preparation but the accountability to the seller lies with the listing broker.

The designated listing broker is responsible for the Seller's closing statement. In a transaction, the seller’s closing statement details all credits and debits to the seller, including the commission, loan payoffs, prorations, and the net proceeds. The designated listing broker oversees the closing for the seller and ensures the statement is prepared, explained, and delivered to the seller for review and signature. While the actual numbers are typically generated by the title company or closing agent, the broker who represents the seller bears the responsibility to coordinate, verify accuracy, and communicate the details to the seller. The buyer’s agent focuses on the buyer’s side, the lender is involved in financing but not in preparing the seller’s statement, and the title company handles the document preparation but the accountability to the seller lies with the listing broker.