What type of items does a buyer get credited for at settlement?

At settlement, a buyer typically receives credits for specific expenses that they are expected to cover after the sale is completed. This is primarily aimed at ensuring a fair distribution of costs associated with the property. One common item for which a buyer gets credited is any outstanding bills related to the property that they will need to pay moving forward. This might include utility bills or property taxes that are due and are the seller's responsibility up to the date of closing.

In contrast, future mortgage payments are costs that the buyer will take on after settlement, so they wouldn’t typically be credited for them at that time. Homeowner association fees can also be a gray area, but typically these are paid prorated between buyer and seller rather than credited as the buyer’s responsibility. Insurance premiums, likewise, would not be specifically credited because while they are a necessary expense for the buyer, they typically are not part of the settlement credits.

Therefore, the correct option emphasizes the practical financial responsibilities that transition to the buyer upon settlement, ensuring that they do not bear unexpected costs after the purchase.