Real Estate Settlement Statement Example

If you're involved in a real estate transaction as either the buyer or seller, having a clear understanding of the financial aspects is crucial. A real estate settlement statement provides a detailed breakdown of the financial transactions involved in a property sale or purchase. At BizzLibrary.com, we offer a comprehensive real estate settlement statement example that you can download in DOCX format to ensure a smooth and transparent settlement process.

What is a Real Estate Settlement Statement?

A real estate settlement statement, also known as a closing statement or HUD-1, is a document that outlines the financial transactions related to a real estate sale or purchase. It provides an itemized breakdown of the costs, expenses, and payments associated with the transaction.

Key Elements of a Real Estate Settlement Statement

A real estate settlement statement typically includes the following key elements:

• Seller's Information: The statement includes the seller's name, address, contact information, and any necessary identification details.
• Buyer's Information: Similarly, the buyer's details, including name, address, and contact information, are mentioned.
• Property Details: The document provides a description of the property being sold or purchased, including its address, legal description, and any other pertinent information.
• Loan Information: If a loan is involved, the statement includes details of the loan, such as the lender's name, loan amount, interest rate, and any applicable fees.
• Payment Breakdown: The statement outlines the various payments involved in the transaction, including the purchase price, earnest money deposit, down payment, and any adjustments for prorated expenses.
• Expenses and Fees: It lists all the expenses and fees associated with the real estate transaction, such as closing costs, agent commissions, title search fees, appraisal fees, and recording fees.
• Prorations: Depending on the date of the transaction, prorated expenses, such as property taxes, utility bills, and homeowners association fees, may be included.
• Net Proceeds: This section provides a final calculation of the net proceeds for the seller after deducting all expenses and fees from the purchase price.

Download the Real Estate Settlement Statement Example

To ensure a smooth and transparent real estate settlement, it's essential to have a proper understanding of the financial aspects involved. Download our real estate settlement statement example in DOCX format from BizzLibrary.com today. It serves as a helpful guide and template for creating your own comprehensive settlement statement.

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