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The closing statement, also called a closing disclosure or settlement statement, is essentially a comprehensive list of every expense that either the buyer and seller must pay to complete the purchase of a home (or whatever the property is).
A list of things to be done and items to be delivered before a transaction can be closed. Responsibility for each item is typically allocated among the parties on the checklist. The status of each item is updated periodically and circulated to the parties in preparation for closing.
A closing statement is a statement that outlines the final details of a real estate transaction. It lists all the costs of the transaction and indicates the ones the seller is paying and the ones the buyer is paying. Another name for a closing statement is a settlement sheet.
As the home buyer your must provide the following documents: Agreement of Purchase and Sale. Property Insurance. Title (how will the title be taken) Home Inspection report. Name of Mortgage lender. Personal information (identification and date of birth) Closing funds.
The closing statement includes information related to the cost of buying or selling a home. The form can also include details of the property itself. What's included on your closing statement can depend on whether you're the buyer or the seller. Property details.