Adjustments (closing)

At settlement of a transaction, expenses and fees that are charged (debited) or paid (credited) to the buyer or seller. These are listed on the settlement statement.
See hud - form, prorate, real estate settlement procedures act .


Example: closing statements prepared by the title company included adjustments for obligations of the buyer and seller and prorated amounts for ad valorem taxes, mortgage interest, and condominium association fees.

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