The HUD-1 Form is a record of all money spent during the purchase of a home. Appraisals and other services are listed on the HUD-1 Form and many are tax deductible.
The HUD-1 Settlement Statement is a standard form which is used to itemize services and fees charged to the borrower by the lender or broker.
The borrower has the right to inspect the HUD-1 one day prior or day of settlement. The form is filled out by the settlement agent who will conduct the settlement.
Borrowers may compare their Good Faith Estimate to the HUD-1 Settlement Statement and ask their lender or broker about any changes. Escrow usually has all these figures for you to review. (For more information about Escrow requirements visit Sedona Arizona real estate and their article on how Escrow works.)
Check out this video for more information:
Feel free to contact me anytime for more information on this or other escrow related topics. And for all Enterprise real estate contact one of our dependable agents today. We can help buyers and sellers find or sell your home!
