Dec. 26, 1985. Amended: of closing the broker shall sign and date the closing statement.
Filed Dec. 15, 1986, effective March 26, 1987. Amended: Filed
Feb. 2, 1994, effective Aug. 28, 1994. Moved to 20 CSR 2250-8.130, (2) A broker may arrange for a closing to be administered by a
effective Aug. 28, 2006. title company, an escrow company, a lending institution or an
attorney, in which case the broker shall not be required to sign
*Original authority: 339.120, RSMo 1941, amended 1963, 1967, 1981, 1988, 1993. the closing statement; however, it shall remain each broker’s
responsibility to require closing statements to be prepared,
to review the closing statements to verify their accuracy and
20 CSR 2250-8.140 Standard Forms to deliver the closing statements to the buyer and the seller
or cause them to be delivered. The detailed closing statement
PURPOSE: This rule instructs a broker as to his/her use and shall contain all material financial aspects of the transaction,
preparation of standard forms approved by counsel. S/he may not including the true sale price, the earnest money received, any
complete these forms for a separate charge for persons in which s/ mortgages or deeds of trust of record, all monies received by
he is not acting as a broker, unless s/he is one of the parties to the the broker, closing agent or company in the transaction, the
contract or instrument. amount, and payee(s) of all disbursements made by the broker,
closing agency or company and the signatures of the buyer
(1) When acting as a broker in a transaction, a broker may and seller.
use current standardized forms including, but not limited
to, contracts, agency disclosures, property management (3) The brokers for the buyer and the seller shall retain legible
agreements, listing agreements,