Home Buyers: How to Read Your HUD-1 Statement | Nolo – The HUD-1 is an important document. The form shows where your purchase money was spent. You can compare the HUD-1 to the Good Faith Estimate ("GFE") given to you by your lender when you applied for your loan to make sure you were not overcharged for any loan, title, document recording, or escrow fees.
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What’s a seller’s statement and do I need one when I sell. – The HUD-1 Settlement Statement is a federally mandated form that must be provided at closing, accurate as to all monetary exchanges, and signed by the buyer, seller and Title, Escrow, or Closing Agent. It is absolutely required for any transaction involving a loan to buy the property. A “Seller’s Statement” is more of a worksheet prepared.
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