The closing statements the buyer and seller get from escrow:
Correct Answer
A) are always different from one another.
Option A is correct because the buyer's closing statement reflects their costs (down payment, loan fees, prepaid items, prorations owed) while the seller's statement reflects their proceeds minus commissions, liens, and prorations owed to the buyer — these are fundamentally different documents. The explanation provided in the question states that escrow closes when all conditions are met, but the tested concept is that buyer and seller statements differ because each party's financial position in the transaction is unique. California escrow law under Financial Code Section 17000 et seq. requires escrow holders to account separately to each principal.
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