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This form is an optional settlement statement used for transactions that do not involve sellers. It outlines the details of the loan, associated settlement charges, and disbursements related to the

How to fill out settlement statement

How to fill out Settlement Statement

1. Obtain the Settlement Statement template from your lender or real estate agent.
2. Enter the property address at the top of the document.
3. Fill in the date of settlement.
4. List the buyer's information, including full name and contact details.
5. Provide the seller's information, including full name and contact details.
6. Fill in the loan information, including loan amount and lender details.
7. Itemize all closing costs, including fees for title search, appraisal, and any other charges.
8. Include any deposits or credits that will be applied towards the closing costs.
9. Calculate the total amounts due from the buyer and total amounts to be disbursed to the seller.
10. Review the statement for accuracy and obtain signatures from both parties.

Who needs Settlement Statement?

1. Real estate buyers and sellers.
2. Lenders evaluating the transaction.
3. Real estate agents involved in the deal.
4. Attorneys representing either party.
5. Title companies handling the closing.

New HUD-1a approved by the Secretary of Housing and Urban Development for use when there is no Seller. For use for refinancing. This form is in fillable PDF format. This form is designed to be printed on legal size. 8 1/2 by 14.

People Also Ask about

When should a seller receive a settlement statement?

The settlement statement, which for any bank-funded residential purchase is called a "closing disclosure," must be prepared by the lender and circulated at least three business days prior to the closing.

When should I get a settlement statement?

The settlement statement, which for any bank-funded residential purchase is called a "closing disclosure," must be prepared by the lender and circulated at least three business days prior to the closing.

What is the most commonly used form for settlement statements?

The closing statement should include basic information about the property, such as the address, when it was built, and the type of structure (i.e., single-family home, multifamily home, manufactured home, etc.). Financial information. Shows the home's purchase price, deposits paid by the buyer, and seller credits.

Who typically delivers the settlement statement to the buyer?

The settlement statement can be provided to the homebuyer and seller by the mortgage lender, a settlement agent, a title company or a real estate attorney.

Is a settlement statement the same as a HUD-1?

The HUD-1 form, also known as the Settlement Statement, is a standardized form used in real estate transactions in the United States.

When should the seller receive the closing disclosure?

By law, you must receive your Closing Disclosure at least three business days before your closing.

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.

For pdfFiller’s FAQs

What is Settlement Statement?

A Settlement Statement is a document that outlines the final details of a real estate transaction, including the costs associated with the sale of a property.

Who is required to file Settlement Statement?

Typically, the buyer and seller involved in a real estate transaction are required to have a Settlement Statement prepared and filed by their respective real estate agents or attorneys.

How to fill out Settlement Statement?

To fill out a Settlement Statement, gather all relevant financial information related to the transaction, including the purchase price, closing costs, and any credits or debits for the buyer and seller. Then, accurately record these details in the designated sections of the statement.

What is the purpose of Settlement Statement?

The purpose of a Settlement Statement is to provide a comprehensive overview of the financial aspects of a real estate transaction, ensuring transparency and understanding between the buyer and seller about all costs and fees involved.

What information must be reported on Settlement Statement?

The information that must be reported on a Settlement Statement includes the purchase price, loan amounts, closing costs, property taxes, title insurance fees, and any other charges or credits applicable to the transaction.