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Definition of Home Loan Documents
Statement of Account from Property Developers
Statement of Account from Property Developers
Tessa Arimado avatar
Written by Tessa Arimado
Updated over a week ago

A Latest Statement of Account, or account statement, is issued by a Property Developer to the buyer. It lists out all the financial transactions between the two within a specific time period (typically, monthly). The statement may reflect a zero balance, if not, it reflects the Outstanding Balance that the client needs to settle.

Banks require this document due to the following:

  • To verify that the borrower has already completed, or about to complete, the down payment for the property.

  • To asses if the loan amount being requested by the borrower is realistic based on the remaining amount due to the Property Developer.

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