What process helps determine how much money the buyer must bring to closing?

The process that helps determine how much money the buyer must bring to closing involves reconciling debits and credits. This step is essential in a real estate transaction, as it provides a clear accounting of all costs associated with the sale.

Debits represent amounts that the buyer is responsible for paying, such as the purchase price of the property, closing costs, and other fees. On the other hand, credits might include any deposits already made or other financial adjustments related to the sale. By accurately reconciling these debits and credits, the buyer is able to identify the total amount needed at closing, ensuring that they bring the correct funds.

This process is typically part of the closing statement, which details all financial aspects of the transaction, providing clarity and transparency regarding what the buyer owes and what to expect during the closing process.