When must a licensee deliver a closing statement to the seller?

A licensee is required to deliver a closing statement to the seller at the time of transaction consummation. This is important because the closing statement provides a detailed account of the financial aspects of the transaction, including the sale price, closing costs, and any deductions or credits that are applicable. It serves to clarify the financial settlement between the buyer and seller, ensuring that both parties have a clear understanding of the terms under which the property was sold.

Delivering the closing statement at the time of consummation is also compliant with legal and regulatory obligations, which mandate transparency in financial transactions. This ensures the seller is fully informed about the financial outcome of the sale as the transaction is finalized, thus safeguarding their rights and interests.

Other scenarios, such as before the listing becomes active or only upon the seller's request, do not align with the standard practices and requirements in real estate transactions. Similarly, delivering the closing statement after all inspections are completed misses the critical timing needed to finalize the transaction. Hence, providing it at the time of transaction consummation is not only appropriate but also a crucial aspect of the process.