Adjustments made at the settlement of a real estate transaction that outline expenses and fees charged to the buyer or seller.
A closing statement is an accounting of funds from a real estate sale, made to both the seller and the buyer separately. It details the financial transactions involved in finalizing a real estate transfer.
A settlement statement is a critical document in a real estate transaction that itemizes all the financial details and allocations for both buying and selling parties. It ensures transparency, allows for error checking, and provides documentation of the financial exchanges in the sale.
