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Reviewing Your HUD-1 Before Closing

It is the goal of every closing attorney and every lender to provide the HUD-1 Settlement Statement to all of the parties prior to closing.

All parties need to review the HUD-1 when they receive it, and they should notify the closing attorney immediately with any corrections, especially the following:

  1. Corrections of names and addresses
  2. Sales Price
  3. Earnest Money
  4. Closing cost allowance
  5. Commissions
  6. Missing payoffs for mortgages or taxes
  7. Missing HOA info
  8. Home Warranty
  9. Repair expenses to a contractor
  10. Any other items that appear incorrect or incomplete.

 

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