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:
- Corrections of names and addresses
- Sales Price
- Earnest Money
- Closing cost allowance
- Missing payoffs for mortgages or taxes
- Missing HOA info
- Home Warranty
- Repair expenses to a contractor
- Any other items that appear incorrect or incomplete.