Reimbursement statement
Reimbursement statement
The reimbursement statement is part of the final process in a real estate transaction and it is here that any costs the seller has paid for the buyer’s ownership period are calculated and also here that the seller reimburses the buyer half of the premium on any change of ownership insurance taken out. A reimbursement statement is therefore a form of final accounting between buyer and seller.
This process ensures that each party bears its rightful share of the costs on the property.
I prepare the statement, review it carefully with you and ensure that balances land with the correct party.
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