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The buyer is assuming a mortgage presently on the property in the amount of $110,000. What is the adjustment made at closing

The buyer is assuming a mortgage presently on the property in the amount of $110,000. What is the adjustment made at closing
asked 6.8k views
3 votes
The buyer is assuming a mortgage presently on the property in the amount of $110,000. What is the adjustment made at closing

asked
User Kevin Cohen
by
8.1k points

1 Answer

6 votes

Answer:

debit seller 110k

credit buyer 110k

Step-by-step explanation:

answered
User Melihovv
by
8.6k points
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