This Closing Statement is for a real estate transaction where the transaction is a cash sale or provides for owner financing. This settlement statement is verified and signed by both the seller and the buyer.
A Mesa Arizona Closing Statement is a legal document that summarizes the financial transactions and settlement details of a real estate transaction or mortgage loan closing in the city of Mesa, Arizona. It serves as the final step in the process, providing an itemized breakdown of the costs and payments involved, ensuring transparency and accountability for all parties involved. The Mesa Arizona Closing Statement includes various types of information, such as: 1. Purchase or Refinance Closing Statement: This type of closing statement is used when a property is being purchased or refinanced. It outlines the agreed-upon purchase price, loan amount, interest rate, and any applicable prorated taxes or HOA fees. In addition, it lists the costs associated with the transaction, including title fees, appraisal fees, insurance, and any other fees or charges related to the loan or property transfer. 2. Seller's Closing Statement: In situations where a property is being sold, the seller's closing statement summarizes the financial aspects of the transaction from the seller's perspective. It includes the agreed-upon sale price, any outstanding mortgage balance, prorated property taxes, real estate agent commissions, and other expenses borne by the seller. 3. HUD-1 Closing Statement: The HUD-1 Closing Statement is a standardized form issued by the U.S. Department of Housing and Urban Development (HUD) and used in real estate transactions across the country, including in Mesa, Arizona. It provides a detailed breakdown of the buyer and seller's financial obligations, including loan terms, purchase price, closing costs, and adjustments. 4. Loan Estimate (LE) Closing Statement: The Loan Estimate Closing Statement is a document provided by the lender to the borrower within three days of applying for a mortgage loan. It offers an estimate of the loan terms, projected monthly payments, and closing costs, allowing consumers to compare different loan options and make informed decisions. When generating a Mesa Arizona Closing Statement, it is crucial to ensure accuracy, compliance with local regulations, and proper disclosure of all costs and fees involved. It serves as a vital record for both the buyer and seller, providing clarity regarding the financial aspects of the real estate transaction in Mesa, Arizona.
