Get the free Closing Settlement Statement

Este documento detalla los términos y cifras involucradas en el cierre de una transacción de bienes raíces, incluyendo los precios de venta, pagos, gastos y ajustes fiscales entre el vendedor y

How to fill out closing settlement statement

How to fill out Closing Settlement Statement

1. Header Information: Enter the property address, date of settlement, and transaction type.
2. Parties Involved: List the names and contact information of the buyer, seller, and any agents.
3. Itemization of Costs: Break down all costs associated with the transaction, including purchase price, title insurance, taxes, and fees.
4. Credits and Debits: Indicate any credits to the buyer or seller, such as earnest money deposits or seller concessions.
5. Final Calculations: Ensure that all debits and credits are totaled accurately to calculate the net amount due at closing.
6. Signatures: Include space for signatures of all parties involved, confirming agreement to the settlement statement.

Who needs Closing Settlement Statement?

1. Buyers: To understand the costs involved in their property purchase.
2. Sellers: To review the financial details of their property sale.
3. Real Estate Agents: To facilitate the transaction and ensure all parties are informed.
4. Lenders: To verify the financial aspects of the closing process.
5. Attorneys: To ensure all legal requirements are met during the closing.

This Closing Statement is for a real estate transaction where the transaction is a cash sale or provides for owner financing. This settlement statement is verified and signed by both the seller and the buyer.

People Also Ask about

What is the closing disclosure of a settlement statement?

A Settlement Statement provides a comprehensive breakdown of financial details, including fees and credits, given to both parties at closing. In contrast, a Closing Disclosure is a specific type of Settlement Statement mandated under TILA-RESPA Integrated Disclosure rules.

Who completes the settlement statement?

On a cash deal, the settlement statement is prepared by the settlement agent, which in almost all cases is the purchaser's attorney's office, and typically the statement is not completed and circulated until one or two days before the scheduled closing date.

Does the seller get a settlement statement?

The HUD-1 Settlement Statement is a document that lists all charges and credits to the buyer and to the seller in a real estate settlement, or all the charges in a mortgage refinance. If you applied for a mortgage on or before October 3, 2015, or if you are applying for a reverse mortgage, you receive a HUD-1.

What is a closing statement in a settlement?

The closing statement, also called a closing disclosure or settlement statement, is essentially a comprehensive list of every expense that the buyer and/or seller must pay to complete the purchase of a home.

Who prepares a settlement statement?

Who prepares the settlement statement? Whoever is facilitating the closing — whether it be a title company, escrow firm, or real estate attorney — will be responsible for preparing the settlement statement.

What is a closing statement in English?

A closing statement is a document that records the details of a financial transaction. A homebuyer who finances the purchase will receive a closing statement from the bank, while the home seller will receive one from the real estate agent who handled the sale.

Who signs the settlement statement?

Borrowers are usually required to review and sign a closing, or settlement, statement, to fully complete the lending process and receive their loan. The signing of the settlement statement binds all of the terms associated with a loan.

For pdfFiller’s FAQs

What is Closing Settlement Statement?

A Closing Settlement Statement is a document that outlines the financial details and terms related to a real estate transaction at closing, including costs, fees, and distributions between the buyer and seller.

Who is required to file Closing Settlement Statement?

Both the buyer and the seller involved in the real estate transaction are generally required to have a Closing Settlement Statement filed, which is also reviewed by the lender if applicable.

How to fill out Closing Settlement Statement?

To fill out a Closing Settlement Statement, one must gather all relevant financial information related to the transaction, including the purchase price, loan details, and all expenses. Each cost should be clearly itemized and calculations verified for accuracy.

What is the purpose of Closing Settlement Statement?

The purpose of a Closing Settlement Statement is to provide a detailed accounting of all transactions occurring at closing, ensuring that all parties are aware of the financial obligations and amounts being exchanged.

What information must be reported on Closing Settlement Statement?

The Closing Settlement Statement must report information such as the sale price, loan amounts, closing costs, escrow amounts, property taxes, and any other fees applicable to the transaction.