At closing, each of the seller and buyer/borrower are provided with a closing statement detailing the credits owed or debits due, and of course the net amount due seller or owed by buyer/borrower. This statement can be difficult to follow. It is your money, so don’t be afraid to ask the closing agent questions about how the closing costs were determined and shared between the sell and buyer. Your tax preparer will also need a copy of the statement for income tax purposes. It’s your money, you deserve answers
Mitch