In a closing scenario, what total amount would a buyer need to bring if taxes and insurance total $675 and recording fees are $25?

Prepare for the VanEd National Real Estate Exam. Study with interactive quizzes and detailed explanations. Get ready to ace your test with confidence!

To determine the total amount that a buyer needs to bring to closing, you simply add the various expenses associated with the closing. In this scenario, the buyer's costs include taxes and insurance, which total $675, and recording fees, which are an additional $25.

By summing these amounts:

  • Taxes and insurance: $675

  • Recording fees: $25

When you add these two figures together, you calculate:

$675 (taxes and insurance) + $25 (recording fees) = $700.

Therefore, the total amount the buyer needs to bring to closing is $700, making the correct answer aligned with the provided choice. This approach emphasizes the importance of knowing what expenses are typically included in closing costs, as well as understanding how to properly calculate total expenditures during the closing process.

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