HUD-1

The HUD-1 lists a complete accounting of the purchase transaction. It’s the financial picture of the closing.  All money flowing in and out of settlement appears on the form.

The Contract or Escrow Agreement is the written agreement between Buyer and Seller which shows the purchase price of the home as well as the “who-pays-what” information relating to closing costs. The Loan Closing Instructions, provided by the Lender, show all loan-related costs.

Title evidence, in the form of a title commitment, title report or other document, reflects any existing mortgages or judgment liens that must be satisfied or paid off at time of closing.

It is the responsibility of the Settlement Agent to see that all charges on the HUD-1 are substantiated in writing and to see that all deposits and disbursements are made in accordance with the HUD-1.

Sample Settlement Statement (pdf format)