Final answer:
The title insurance company is responsible for the figures on the Closing Statement in a real estate transaction. They ensure the accuracy of the document, which includes various itemized charges and fees for both parties involved in the transfer of property. The correct option is 1.
Step-by-step explanation:
The party responsible for the figures on the Closing Statement during a real estate transaction is typically the title insurance company. The title company handles the settlement process, which includes preparing the closing statement, a document that outlines the financial transactions and costs involved in the closing. This comprehensive statement includes itemized fees and charges for both the buyer and seller. It is crucial for this document to be accurate, as it reflects the final financial exchange in the property transfer.
The responsibilities of the title company generally involve ensuring that the property title is clear of any liens or other encumbrances, as well as issuing title insurance to protect against future claims. The closing agent from the title company will prepare the closing statement based on the sale agreement and other relevant documentation, such as loan information, pro-rated taxes, and association dues, if applicable.
Therefore, 1 is the correct option.