Online: Closing Transactions in Michigan
Expenses related to the transfer of real property appear on the settlement statement, and take into account both prepaid and prorated items. Your seller clients will want to know what they’ll net after closing costs. If some of these terms (‘closing costs,’ ‘settlement statement,’ ‘prepaid items,’ and ‘prorated items’) are unfamiliar to you, don’t worry. You’ll be fluent in escrow and closing “speak” when this course is complete.