PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM GLOSSARY
Buyer funds needed at closing are the buyer's purchase-price obligation plus buyer closing costs and debits, minus loan proceeds, deposits already paid, seller credits, and other credits shown in the problem.
Real Estate Calculations
Closing calculations
Define, distinguish, apply, retrieve
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PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEBuild the complete exam definition
Learn the rule, separate it from the nearest distractor, then apply it to a Georgia fact pattern.
What does Buyer funds needed at closing mean?
Buyer funds needed at closing are the buyer's purchase-price obligation plus buyer closing costs and debits, minus loan proceeds, deposits already paid, seller credits, and other credits shown in the problem.
How do you separate the nearest exam answer?
The down payment is only the price not financed. Cash to close also includes costs, prorations, credits, and prior deposits.
What changes or stays the same in Georgia?
Georgia problems can add intangible recording tax or attorney-related charges when allocated to the buyer. Apply the stated contract and closing figures, not a customary assumption.
Price is $350,000, loan is $280,000, buyer costs are $8,000, earnest money already paid is $5,000, and seller credit is $3,000. Funds needed are $70,000 + $8,000 - $5,000 - $3,000 = $70,000.
Subtracting earnest money twice or forgetting that a credit reduces cash to close produces common distractors.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDERetrieve the rule under exam conditions
Answer before reading the explanation. Then explain why every distractor belongs to a different term.
A buyer purchases a home for $300,000 with a 90 percent loan. Buyer closing costs are $7,500, $4,000 in earnest money was paid at contract, and the seller gives a $2,500 credit. How much must the buyer bring to closing?
- A
$35,000
- B
$27,000
- C
$31,000
- D
$36,000
Start with the $30,000 down payment, add $7,500 in costs, then subtract the $4,000 earnest money already paid and the $2,500 seller credit, for $31,000. Forgetting the earnest money gives $35,000, and subtracting it twice gives $27,000. A seller credit reduces cash to close, so adding it gives the wrong $36,000.
Mark each box only when you can perform the skill without looking.
I can define the term in one precise sentence.
I can separate it from the closest look-alike.
I can explain the Georgia rule or confirm that the national rule applies.
I can answer the practice check and explain every option.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEConnect the term to the wider exam
Use these relationships to move from isolated recall to a connected exam model.
Real Estate Calculations complete lesson
https://www.passgeorgiarealestate.com/math/buyer-funds-at-closing
Official exam administration and content-outline source.
https://test-takers.psiexams.com/api/content/bulletin/4672Official source for Georgia transfer-tax and recording-tax treatment.
https://dor.georgia.gov/real-estate-transfer-tax