Closing statement real estate definition
Closing disclosure.
Closing statement real estate definition of a bedroom
A real estate closing statement, also known as a settlement statement, is a document that provides a detailed breakdown of the financial transactions involved in the transfer of real property. This article will use an example real estate closing statement and explain each line in detail.
It will be prepared by the closing real estate attorney or title company and given to all parties of the transaction.
This settlement sheet will provide a comprehensive list of every expense included in the real estate transaction.
The closing statement is one of the many legal forms used for a home purchase. It itemizes all the costs, fees, and expenses related to the real estate transaction.
Closing statement real estate definition
This detailed list of every fee will include the purchase price, loan amount, prorated taxes, insurance premiums, recording fees, and any other expenses involved in the transfer of ownership.
The closing statement will specify who is responsible for paying for each item.
It will also include the total paid