What is a Settlement Statement?
A settlement statement, also known as a HUD-1, is a document that lists all the costs associated with buying or selling a home.
It includes the purchase price, loan fees, taxes, insurance, and any other costs that need to be paid at closing.
This document will be given to the buyer and seller at the closing of the real estate transaction.
Really good agents will also send you a copy of your HUD-1 right before tax time to make sure you take advantage of any tax-deductible expenses from the purchase or sale of your home.