As many of our buyers and sellers prepare for settlement, many ask the question: What is this HUD form you speak of?

Essentially, it's realtor talk for the settlement sheet. At settlement, this document has all of the financial transactions relating to the sale and purchase of real estate.

Sales price, prorations for taxes and utilities, and seller's assist, mortgage fees and commissions are all just some of the items that are listed on this sheet.

If the numbers match up, both the buyer and seller sign off and the deal is done! Click the link below for an example of a HUD-1 form.

For more information on how settlements work, call us at 215-576-8666!

Taken from: http://www.hud.gov/offices/adm/hudclips/forms/files/1.pdf