Get the free Oregon HUD-1 Closing Statement

This HUD-1 Closing Statement is approved by the Secretary of Housing and Urban Development. This form is available in fillable PDF format and is designed to be printed on legal size (8 1/2 by 14)

How to fill out oregon hud-1 closing statement

How to fill out Oregon HUD-1 closing statement:

1. Gather all necessary documents: Before filling out the HUD-1 form, make sure you have all the relevant documents, including the sales contract, loan documents, and any other relevant paperwork.
2. Enter the basic information: Start by entering the basic information such as the date of closing, the name and address of the borrower, the seller, and the property address.
3. Provide details of the loan: Fill in the details of the loan, including the lender's name, loan amount, interest rate, and any applicable fees or points.
4. Document the seller's charges: List any charges or fees being paid by the seller, such as real estate commissions, unpaid taxes, or other fees.
5. Disclose the buyer's charges: Detail any charges or fees that the buyer is responsible for paying, such as appraisal fees, title insurance, or inspection costs.
6. Include taxes and insurance: Enter the amounts for property taxes, homeowner's insurance, and any other insurance premiums required for the property.
7. Calculate the cash needed to close: Add up all the charges and credits to determine the amount of cash needed to close the transaction.
8. Verify accuracy and review: Double-check all the figures and calculations to ensure accuracy. Review the completed HUD-1 form with all parties involved in the transaction before signing.
9. Sign and distribute copies: Once verified and reviewed, sign the HUD-1 form along with the other parties involved in the transaction. Make copies for all parties, including the buyer, seller, and lender.

Who needs Oregon HUD-1 closing statement:

1. Buyers: Buyers need the HUD-1 closing statement to understand the breakdown of charges, fees, and credits associated with their real estate transaction. It provides transparency and helps buyers prepare financially for the closing.
2. Sellers: Sellers also require the HUD-1 closing statement to comprehend their financial obligations and any proceeds from the sale. It assists them in reconciling their expenses and ensuring accuracy in the closing process.
3. Lenders: Lenders need the HUD-1 closing statement to verify the accuracy and completeness of the transaction. It helps them ensure that all financial aspects, such as loan disbursements and payments, are properly documented.
4. Real estate agents: Real estate agents can use the HUD-1 closing statement to assist buyers and sellers in understanding the financial aspects of the transaction. It allows agents to provide comprehensive information and answer any questions related to charges and credits.
5. Attorneys: Attorneys involved in the real estate transaction often rely on the HUD-1 closing statement to review and assess the financial aspects of the closing. It helps them ensure compliance with legal requirements and protect their clients' interests.

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What is oregon hud-1 closing statement?

The Oregon HUD-1 closing statement, also known as the Settlement Statement, is a standardized form used in real estate transactions. It provides a detailed breakdown of all the costs and fees associated with the purchase or sale of a property in Oregon.

Who is required to file oregon hud-1 closing statement?

Both the buyer and the seller are required to file the Oregon HUD-1 closing statement. It is usually prepared by the closing agent or the settlement agent, who then provides copies to all parties involved in the transaction.

How to fill out oregon hud-1 closing statement?

The Oregon HUD-1 closing statement must be filled out accurately and completely. It requires information such as the names and addresses of the buyer and seller, the property details, loan information, and a detailed breakdown of all the costs and fees associated with the transaction. It is recommended to seek the assistance of a qualified professional, such as a real estate attorney or a closing agent, to ensure the form is filled out correctly.

What is the purpose of oregon hud-1 closing statement?

The purpose of the Oregon HUD-1 closing statement is to provide a transparent and detailed summary of all the financial aspects of a real estate transaction. It helps the parties involved, including the buyer, seller, and lenders, to understand and verify the monetary aspects of the transaction, such as the purchase price, loan details, and closing costs.

What information must be reported on oregon hud-1 closing statement?

The Oregon HUD-1 closing statement includes information such as the names and addresses of the buyer and seller, property details, loan information, identification of the closing agent, a detailed breakdown of all costs and fees, and any adjustments or credits that may be applicable to the transaction. It provides a comprehensive overview of the financial aspects of the real estate transaction.