Closing Statement

Business / Taxes / Closing Statement: A closing statement, also called a HUD1 or settlement sheet, is a legal form your closing or settlement agent uses to itemize all of the costs you and the seller will have to pay at closing to complete a real estate transaction. Your total cost should be similar to the amount in the good faith estimate (GFE) provided by your lender. It’s important to review the closing statement with your real estate agent and settlement agent. Mistakes do occasionally happen, so be sure to ask questions if there are any charges you don’t understand.

Other Words for Statement

Statement Adjective Synonyms: assertion, allegation, declaration, expression, report, account, affirmation, asseveration, averral, announcement, annunciation, proclamation, utterance, communication, disclosure
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Reduction Certificate (Payoff Statement)

Business / Real Estate / Reduction Certificate (Payoff Statement): The document signed by a lender indicating the amount required to pay a loan balance in full and satisfy the debt, used in the settlement process to protect both the sellers and the buyers interests. MORE

Real Estate Transfer Disclosure Statement

Business / Real Estate / Real Estate Transfer Disclosure Statement: As required by California Civil Code Sections 1102-1102.14, a transferee (buyer) of residential real property is entitled to a statement from the transferor (seller) which provides information regardi MORE

Purpose Statement

Business / Finance / Purpose Statement: A form filed by a borrower that describes the use of a loan backed by securities, and guarantees that the funds lent will not be used illegally to buy securities against Federal Reserve regulations. MORE

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