What is included in a closing statement?

The correct response highlights that a closing statement is a comprehensive document that details all costs, fees, and disbursements associated with the closing of a real estate transaction. This statement serves as a final accounting of all monetary exchanges between the buyer and seller, ensuring transparency and clarity regarding what is owed and paid during this critical phase of the transaction.

A closing statement typically includes various elements such as the sale price, pro-rated taxes, title insurance fees, attorney's fees, and any other costs that need to be settled at closing. By consolidating all these details into one document, it helps both parties understand the financial implications of the sale and ensures that there are no surprises at the closing table. This element of thoroughness is essential in real estate transactions to foster trust and avoid disputes later on.

In contrast, the other options provided do not capture the full essence of what a closing statement encompasses. For instance, solely focusing on the sale price or property tax estimates misses the broader context of all financial obligations tied to the closing process, while a breakdown of future maintenance costs is not relevant to the immediate transaction and would not be included in a closing statement.