What amount should be debited from the seller at closing?

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 correct amount that should be debited from the seller at closing, it's important to consider typical costs associated with a real estate transaction, such as closing costs, commissions, and any outstanding liens or taxes that the seller must settle.

The figure that has been indicated as the correct answer, $3,641, likely represents a total of these various seller-related expenses or debits. This could encompass real estate commissions, prorated property taxes, title insurance fees, and any other related charges that need to be paid at the time of closing.

During the closing process, sellers commonly face multiple expenses that will be deducted from the proceeds of the sale. Understanding this, it's essential to calculate all relevant costs accurately to arrive at the actual debit amount.

While the other amounts represent possible figures for seller debits, they likely do not encompass the full range of expenses that the seller must pay, resulting in them being inadequate compared to the $3,641 amount, which serves as a comprehensive representation of the seller’s financial obligations closing.

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