What is expected from the seller at the point of closing in terms of fees?

At the point of closing, the seller is expected to ensure that any existing loans secured by the property are paid off. This is crucial because any outstanding loans represent a lien against the property, and the closing process involves transferring clear title to the buyer. When the seller pays off these loans, it reduces the buyer's risk by ensuring they acquire the property free of any financial encumbrances that could arise from the seller's debts.

In many real estate transactions, the closing statement will outline the seller's obligations to pay off these loans, thus ensuring a smooth transfer of ownership. By settling these loans, the seller not only fulfills legal obligations but also facilitates the buyer's ability to obtain financing, as lenders typically require a clear title before granting a mortgage.

The other options listed, while potentially relevant to the real estate process, do not represent standard expectations at closing. For example, while providing security deposits may be a part of rental agreements, it's not applicable to a sale transaction at closing. Offering discounts on closing costs might be a negotiation point but is not an obligation at the point of closing. Similarly, making repairs before closing can be part of the negotiations prior to closing but is not universally required. Therefore, ensuring existing loans are paid off stands out as