In a real estate transaction, which party typically prepares the closing statement?

In a real estate transaction, the closing statement is typically prepared by the listing broker. This is because the listing broker plays a central role in the transaction process, facilitating communication and coordination between the buyer, seller, and other parties involved, such as attorneys and lenders. The closing statement outlines the financial details of the transaction, including the purchase price, prorated taxes, and any other costs, ensuring all parties have a clear understanding of the financial aspects before the closing.

This preparation is part of the broker's duties, which includes ensuring compliance with local regulations and providing clarity to both the buyer and seller about their financial obligations at closing. The listing broker's familiarity with the transaction details and oversight of the process positions them well to create an accurate and comprehensive closing statement that reflects all terms agreed upon during the negotiation.