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Real Estate professionals have written articles to help you with the home buying and selling process. To see the meaning of particular words, click the links in the articles to go to the Real Estate Dictionary.
 
Education Center
Education Center > Buying a Home > The HUD-1 Settlement Statement

 
The HUD-1 Settlement Statement

When you close on the home you're buying, you will sign the HUD-1 Settlement Statement. This two-page form lists the closing costs for all of the items paid by you and the seller.

Each page has a seller's column and a buyer's column. The first page is a summary of the transaction. It takes items charged to you and subtracts items which are credits. The result will be the cash you should bring to closing in the form of a cashier's check. The last line of page two (Item 1400) lists the total settlement charges for you and the seller.

The seller's summary takes the items that the seller should be receiving and subtracts the charges. The difference is the amount of money that the seller will net at closing.

To learn more about the HUD-1, go to http://www.hud.gov/offices/hsg/sfh/res/sc3sectd.cfm.

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Education Center is intended to be informational only. Please be advised that real estate practices vary from state to state and market to market. The information contained herein does not constitute legal advice. It is recommended that you consult with a qualified real estate attorney who can advise you specifically with respect to the requirements in your market.