At closing, the seller would be credited for which of the following?

• A. Title insurance fees
• B. The sales price of the property
• C. Unpaid property taxes
• D. Recording fees for the deed

Answer: (B)

Verified step by step guidance

1. Understand the concept of 'closing' in a real estate transaction. Closing is the final step in the property sale process where ownership is transferred from the seller to the buyer, and financial obligations are settled.
2. Identify the items listed in the problem: title insurance fees, the sales price of the property, unpaid property taxes, and recording fees for the deed. Determine which of these items would result in a credit to the seller.
3. Recall that a credit to the seller represents an amount that the seller is entitled to receive or is reimbursed for during the closing process. Typically, this includes the sales price of the property, as it is the agreed-upon amount the buyer pays to the seller for the property.
4. Analyze the other items listed: title insurance fees, unpaid property taxes, and recording fees for the deed. These are generally expenses or obligations that the seller or buyer must pay, rather than amounts credited to the seller.
5. Conclude that the sales price of the property is the correct item that the seller would be credited for at closing, as it represents the payment for the property being sold.