Real Estate Terms Glossary
What is a Settlement Statement?
The settlement statement, also known as the closing statement, is a legal document that outlines what a buyer needs to pay to the seller or vendor on settlement. The statement also has a good faith estimate. The settlement statement lists all charges and credits to both the buyer and the seller in a property or real estate settlement.
Some of these costs include loan origination fees, closing costs, and appraisal fees.
Examples of Settlement Statement
- Example 1: HUD-1 settlement statement
Here’s Investopedia’s definition of a Settlement Statement .
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