Question

A document that itemizes all of the expenses paid by the buyer and seller to close a real estate transaction.

A. Pre-qualification letter
B. Closing costs
C. Purchase agreement
D. Closing Disclosure

Answer 1

The Closing Disclosure is the document that itemizes all the expenses paid by the buyer and seller to close a real estate transaction.

Step-by-step explanation:

The document that itemizes all of the expenses paid by the buyer and seller to close a real estate transaction is called the Closing Disclosure. This document is provided to both the buyer and seller by the lender at least three business days before the closing date. It outlines all the costs and fees associated with the transaction, including loan fees, appraisal fees, title insurance, escrow fees, and more.