HUD-1 Settlement Statement
- A document finalized at the completion of a real estate transaction that itemizes fees, payments, and adjustments involved in the property purchase
- The buyer reviews the HUD-1 Settlement Statement to get a clear understanding of all the costs involved in the property transaction.
- Before the final transaction, both the buyer and seller must agree on the details in the HUD-1 Settlement Statement.
- The real estate agent explained that every charge, from the realtor's fee to the title insurance cost, would be outlined in the HUD-1 Settlement Statement.