Closing statement
SampleThe settlement of the financial close on January 6, 2027: land, the construction loan and the equity at close.
Sample statement in the live format. Records only; no money moves through Apolis.
- Closing date
- January 6, 2027
- Model month 0
- Total sources at close
- $3.9M
- Deposits, loan, equity, seller credit
- Cash to close from equity
- $3.8M
- Wired at close, after earnest money
What changed hands at closing
Buyer and borrower debits and credits by section, with the seller's side as a sample.
| Line | Buyer and borrower | Seller (sample) | Source | ||
|---|---|---|---|---|---|
| Debit | Credit | Debit | Credit | ||
| Purchase price | |||||
| Contract sales price, landBudget: Land, paid in full at closing | $2,000,000.00 | $2,000,000.00 | Budget | ||
| Prorations and adjustments | |||||
| County property taxes, January 1 to January 6, 2027, 5 of 365 daysPaid in arrears; the seller credits its share | $342.47 | $342.47 | Sample input | ||
| Title and escrow | |||||
| Owner's title insurance policyShare of the budget's title and closing line | $45,879.36 | Sample split | |||
| Lender's title insurance policyShare of the budget's title and closing line | $36,048.07 | Sample split | |||
| Settlement and escrow feeShare of the budget's title and closing line | $9,831.29 | Sample split | |||
| Recording fees, deed and mortgageShare of the budget's title and closing line | $3,277.10 | Sample split | |||
| Lender charges | |||||
| Origination fee, Sample Regional Bank75 bps on the commitment | $254,415.00 | Term sheet | |||
| Lender's legal counselShare of the budget's title and closing line | $29,493.87 | Sample split | |||
| AppraisalShare of the budget's title and closing line | $11,469.84 | Sample split | |||
| Construction consultant, plan and cost reviewShare of the budget's title and closing line | $9,831.29 | Sample split | |||
| Reserves funded at close | |||||
| Interest reserve drawn at closeNone: equity funds first, no balance yet | Month 0 draw | ||||
| Tax and insurance escrowsNone required by the term sheet | Sample input | ||||
| Sponsor costs paid at close | |||||
| ALTA surveyShare of the budget's title and closing line | $11,469.84 | Sample split | |||
| Phase I environmental site assessmentShare of the budget's title and closing line | $6,554.19 | Sample split | |||
| Legal, accounting and offeringBudget: Legal, title, closing | $212,402.50 | Budget | |||
| Architecture and engineering, month 0 billing | $256,259.26 | Month 0 draw | |||
| Permits and city fees, month 0 | $533,333.34 | Month 0 draw | |||
| Developer fee, first installment25% at closing | $510,000.00 | Month 0 draw | |||
| Deposits applied | |||||
| Earnest money deposit5% of the land price, funded from equity | $100,000.00 | Purchase agreement | |||
| Loan proceeds funded at close | |||||
| Construction loan, Sample Regional BankEquity funds first; the first loan draw follows | Month 0 draw | ||||
| Equity contributed at close | |||||
| Equity wired at closeMonth 0 equity draw less the earnest money | $3,830,264.95 | Month 0 draw | |||
| Balance | |||||
| Cash due to borrowerSeller side: Cash due to seller | $342.47 | $1,999,657.53 | Balance | ||
| Totals | $3,930,607.42 | $3,930,607.42 | $2,000,000.00 | $2,000,000.00 | |
Where each line comes from
- Budget: a Budget tab line paid in full at closing. Month 0 draw: that line's closing month in the draw schedule.
- Term sheet: the origination fee on the construction loan commitment.
- Purchase agreement: earnest money as a share of the land price, applied as a credit.
- Sample split: the budget's title and closing line of $163,854.85, divided into 9 rows by stated sample shares that sum to the line exactly.
- Sample input: county taxes at a sample 1.25% of the land price, $25,000.00 a year, prorated for 5 of 365 days.
Does the statement tie to the budget and the draws
Every figure ties to the cent or its gap is named: 2 named.
- Cash due to borrower, $342.47: The seller's tax proration credit, returned to the borrower and held toward the year's tax bill
- Equity called at close, -$9,341,805.15: The first call covers the year 1 equity draws; the balance stays with the borrower for months 1 to 12
Tie-out table, 9 rows
| Statement figure | Source | Source amount | Statement | Difference | Result |
|---|---|---|---|---|---|
| Purchase price | Budget: Land | $2,000,000.00 | $2,000,000.00 | $0.00 | Ties to the cent |
| Title, escrow, lender and survey rows | Budget: Title and closing | $163,854.85 | $163,854.85 | $0.00 | Ties to the cent |
| Origination fee | Budget: origination, from the term sheet | $254,415.00 | $254,415.00 | $0.00 | Ties to the cent |
| Legal, accounting and offering | Budget: Legal, title, closing | $212,402.50 | $212,402.50 | $0.00 | Ties to the cent |
| Uses paid at close | Draw schedule: month 0 total draw | $3,930,264.95 | $3,930,264.95 | $0.00 | Ties to the cent |
| Loan proceeds | Draw schedule: month 0 loan draw | $0.00 | $0.00 | $0.00 | Ties to the cent |
| Equity at close plus earnest money | Draw schedule: month 0 equity draw | $3,930,264.95 | $3,930,264.95 | $0.00 | Ties to the cent |
| Cash due to borrower | Uses less sources | $0.00 | $342.47 | $342.47 | Gap named: The seller's tax proration credit, returned to the borrower and held toward the year's tax bill |
| Equity called at close | Cap table: first capital call, month 0 | $13,272,070.10 | $3,930,264.95 | -$9,341,805.15 | Gap named: The first call covers the year 1 equity draws; the balance stays with the borrower for months 1 to 12 |