Final answer:
The designated buying broker in a real estate transaction is responsible for the buyer's statements and figures, working with the buyer on various aspects such as offers, financing, and the closing process with the title company. The correct option is: 4.
Step-by-step explanation:
The question pertains to the responsibilities of a designated buying broker in the context of real estate transactions. In a real estate transaction, the designated buying broker is primarily responsible for the buyer's statements and figures. This includes presenting all offers to purchase to the seller and negotiating on behalf of the buyer. It may also entail working with the buyer to secure financing, coordinating with a title company for the closing process, and ensuring that the buyer is aware of all costs associated with their purchase. However, the specific duties can vary depending on state laws and the agreement between the buyer and their broker.
The title company typically handles the closing process and prepares the final statements and documentation for both parties. Both the seller and the buyer will receive a closing statement, which is a detailed accounting of all the transactions and fees involved. Consequently, option 3 from the choices provided, stating that the designated buying broker is responsible for the buyer's statements and figures, is the most accurate answer.