What is the HUD-1 Settlement Statement?
The HUD-1 Settlement Statement is a standard form that shows all charges imposed on buyers and sellers in connection with the settlement. In essence, it reflects the various aspects of the financial transaction between the seller, the buyer and the lender. Your settlement agent will explain this document to the parties at the settlement table.
Related Questions
- GOVERNMENT FEES QUESTION IN 1200 SERIES OF HUD-1 Question: If there are additional government recording fees, such as to record a power of attorney or road maintenance agreement, are they included in Line 1201 of the HUD-1 or can they be charged separately?
- Does voluntarily using the HUD-1 in a real estate transaction that otherwise is not subject to RESPA result in RESPA applying to the transaction?
- Where should the settlement agent list the commitment fee, wire fee and other miscellaneous title fees on the HUD-1?
