Under law, when must a licensee prepare and furnish a completed estimated closing statement to a seller?

A licensee is required to prepare and furnish a completed estimated closing statement to a seller at the time the offer is presented. This is essential because it ensures that the seller is fully informed about the potential financial implications of the transaction before they agree to proceed. Transparency regarding the estimated closing costs helps the seller make an informed decision about accepting or negotiating the offer.

Providing the estimated closing statement at this stage equally serves to protect the buyer and the seller by clarifying costs associated with the sale, helping to avoid misunderstandings later in the process. By presenting this information at the time of the offer, the licensee contributes to a more organized and efficient transaction process, ultimately fostering trust between the parties involved.

The other options reflect stages of the selling process where the seller may not have all the necessary financial information to make an informed decision about the offer on the table.