Settlement Statements

A Settlement Statement is a detailed document used in real estate transactions that outlines all financial aspects of a home sale. It lists the purchase price, real estate agent commissions, taxes, and other related costs, showing how much the buyer owes and how much the seller will receive. Commonly known in the U.S. as the HUD-1 or Closing Disclosure, it is provided during the closing process, ensuring both parties understand the financial details and helping to prevent misunderstandings regarding the transaction. It serves as a transparent record of the financial exchange involved in transferring property ownership.