closing statement

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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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

closing statement

Written itemization accounting for all funds changing hands at a real estate or mortgage loan closing.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Moreover, he heaped praise of the summit's organization and President Michel Aoun's management of sessions and closing statement. R.A.H.
The closing statement of the Istanbul quadripartite summit between Russia, Turkey, Germany, and France had affirmed commitment to Syria's unity, sovereignty, and independence, that there is no alternative to the political solution for the crisis, and the need to facilitate the return of displaced Syrians, in addition to forming the committee for discussing the constitution.
Summary: Leaders of countries participating in the 17th Francophonie Summit stressed the need for refugees residing in Lebanon to return to their homeland, in closing statement from the summit released Friday.
The Government adopted the proposed closing statement for last year's budget.
"The closing statement shows surplus, but there is no (surplus) since we have plans to do our own construction projects, mainly rebuilding the services directorate, which is in portable cabins, and doesn't give a nice image to what this establishment should look like.
Residents should bring their property tax bill, paperwork from any appraisal performed in the past 18 months and a closing statement if the house was purchased within the last year.
In her closing statement, the judge said that the sentence "aimed to educate the men on Islam's reverence for Virgin Mary."
"The closing statement of the Persian Gulf Cooperation Council summit in Kuwait is a clear example of lack of proper understanding about regional realities and priorities," Qassemi said on Wednesday.
Delivering the closing statement at the Geneva-hosted Youth and Employment in North Africa Conference, Sahar Nasr said her ministry has launched an initiative in cooperation with EFG Hermes and the UN Development Program (UNDP) to make use of youth's ideas and provide an appropriate environment for young entrepreneurs.
In her closing statement, the Regal matriarch told the entertainment press that she will always give support to showbiz's ultimate heartthrob.
Pourgourides was giving his closing statement in the trial of Kyprizoglou, who, along with former deputy attorney-general Rikkos Erotokritou, lawyer Panayiotis Neocleous, and the Andreas Neocleous law firm, is accused of having conspired to pervert the course of justice in 2013.