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The binder deposit held in escrow by a broker would be entered on the closing statement as a ___ to the ___.
credit, buyer
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The ___ normally pays for the documentary stamp tax on the deed.
seller
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Expenses on a closing statement are always entered as ___.
debits
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Prorations are always entered on a closing statement as ___ entries.
double
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Title insurance is ordinarily paid by the ___.
buyer
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The state documentary stamp tax on the promissory note and intangible tax on a new mortgage is normally paid by the ___.
buyer
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___ is paid in advance; ___ and ___ are paid in arrears.
rent, taxes, interest
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The amount due the seller at closing is calculated by subtracting the seller's total ___ from the seller's total ___.
debits, credits
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The amount the buyer is required to bring to closing is calculated by subtracting the buyer's total ___ from the buyer's total ___.
credits, debits
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The seller's ___ ___ and the buyer's ___ ___ are not usually equal due to the differences in their expenses.
grand totals, grand totals
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The day of closing is always charged to the buyer for ___ ___.
prepaid interest
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Entries on the broker's statement are made as either ___ or ___.
receipts, disbursements
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Prorated rent is entered on the closing statement as a ___ to the seller and a ___ to the buyer.
debit, credit
-
No taxes are payable on either the note or mortgage when title is taken ___ ___ the mortgage.
subject to
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