What is a broker’s statement?

The broker’s statement (also known as the closing cash reconciliation statement) accounts for all cash received by the closing agent and all cash paid by the closing agent

It includes:

  • the amount deposited by the buyer
  • the amount due from the buyer at closing
  • any expenses prorated to the buyer
  • the balance due to the seller at closing
  • the brokerage fee payable by the seller
  • any expenses prorated to the seller

In essence, this is a net summary of the closing statement details of both the seller and the buyer