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The Closing Settlement Statement is a critical document in real estate transactions within Texas, detailing the financial aspects between the buyer and seller. It encompasses important entries including the sales price, down-payments, and balances for both parties. Users will find sections for various expenses such as title search fees, attorney fees, and commissions listed separately for both buyers and sellers. The form necessitates total expenses and adjustments relevant to the transaction, ensuring transparency in financial dealings. To effectively use this form, parties involved should clearly complete all fields, and it’s crucial to certify the accuracy of all provided information by signing with their Social Security numbers. This form is especially useful for attorneys, partners, and paralegals, facilitating clear documentation of financial commitments in real estate deals. By utilizing this statement, legal professionals can ensure that all costs and adjustments are accounted for, aiding in the smooth transition of ownership. Overall, the Closing Settlement Statement is indispensable for fostering clear communication and understanding between all parties in a real estate transaction.
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