Hawaii Pre-Licensing National Practice Exam

At closing, what is typically one of the seller's responsibilities?

1. Condition of the home

2. Payment of the broker's commission

3. Transfer of title

4. Payment of property taxes

The correct answer is: Payment of the broker's commission

The seller's responsibilities at closing typically include the transfer of title, which is a critical part of the real estate transaction. This involves the seller legally conveying ownership of the property to the buyer, making certain that all necessary documents are duly executed and delivered to complete the transfer. While it is common for the seller to pay the broker's commission, this is often negotiated and can sometimes be shared with the buyer. Payment of property taxes can be prorated between the buyer and seller at closing, and the seller must ensure that the home's condition complies with the terms of the agreement. However, the primary responsibility that stands out is the transfer of title, as it signifies the completion of the sale and the change in ownership.