What are always debits to the seller at closing?

The correct answer is that the real estate commission and deed tax stamps are always debits to the seller at closing.

In a real estate transaction, the seller typically incurs costs associated with the transfer of the property, and these costs are considered debits to their account during the closing process. The real estate commission is a fee that is paid to the real estate agents involved in the transaction, typically calculated as a percentage of the selling price. This fee is standard practice and is a direct cost to the seller for employing the services of the agent to market and sell their property.

Deed tax stamps, or transfer taxes, are another mandatory fee the seller must pay upon the sale of the property. These stamps are required by the state or municipality to legally record the change of ownership on public records. Both of these costs are non-negotiable and are standard deductions from the proceeds the seller receives at closing.

Other provided options may include fees that can vary based on the agreement between the parties or local laws; they are not guaranteed to always be due from the seller in each transaction like the real estate commission and deed tax stamps.

Understanding these common costs can help sellers prepare financially for the closing process, ensuring they have the necessary funds to cover these expenses