{"id":6018,"date":"2025-01-27T04:11:03","date_gmt":"2025-01-27T12:11:03","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=6018"},"modified":"2026-03-13T11:04:42","modified_gmt":"2026-03-13T18:04:42","slug":"sellers-closing-statement","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/sellers-closing-statement\/","title":{"rendered":"How to Read a Settlement Statement When Selling a Home"},"content":{"rendered":"

It\u2019s the moment when you can\u2019t bear to see another piece of paper related to your home sale that you\u2019ll receive the settlement statement \u2014 also known as a seller’s closing statement<\/a> in real estate. Muster up the energy to go over it with fresh eyes. This line-by-line guide detailing how to read a settlement statement should help.<\/p>\n

Plus, the dense document will reveal an exciting calculation: how much you\u2019ll pocket from this sale at the end of the day, after accounting for fees, taxes, and other charges<\/a>. Sellers can expect to pay between 6%-10% of the final sale price<\/a> in commissions and closing costs, so it\u2019s nice to see exactly where that money is going.<\/p>\n

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\n \"homelight\n <\/div>\n \n

Find an Agent to Help You Navigate the Paperwork<\/h3>\n

Buying and selling real estate is a complex task. A top real estate agent can serve as an invaluable transaction coordinator during steps like the title search and deed transfer.<\/p>\n \n

\n Find Agent<\/a>\n <\/div>\n <\/div>\n<\/div>\n\n<\/span><\/p>\n

<\/div>What is a settlement statement?<\/h2>\n

A settlement statement is an itemized list of fees and credits summarizing the finances of an entire real estate transaction. It serves as a record showing how all the money has changed hands line by line.<\/p>\n

It details the funds owed to real estate agents collecting commission from the sale, local governments owed taxes and recording fees<\/a>, and final charges going to the lender.<\/p>\n

At the bottom of the statement, you\u2019ll see your net proceeds<\/a> in the seller credit column, as well as what\u2019s due from the buyer. Think of this document as a formal receipt for your home sale.<\/p>\n

<\/div>Does the seller get a closing statement?<\/h2>\n

Buyers tend to sign the bulk of the paperwork at closing<\/span><\/a>, making some sellers wonder if they will even receive a settlement statement.<\/p>\n

However, this is one document that holds relevance among all parties to the transaction. Both seller and buyer will receive a copy of the settlement statement at closing to review.<\/p>\n

<\/div>Who prepares the settlement statement?<\/h2>\n

Whoever is facilitating the closing \u2014 whether it be a title company, escrow firm, or real estate attorney \u2014 will be responsible for preparing the settlement statement.<\/p>\n

<\/div>What is the settlement statement called now?<\/h2>\n

The settlement statement is called just that: a settlement statement. Different versions of these documents are used from state to state. However, the settlement form developed by the trade group ALTA (American Land Title Association)<\/a> is widely used across the nation for real estate transactions.<\/p>\n

To clear up any confusion, the settlement statement you\u2019ll receive is not an HUD-1. As of October 3, 2015, the Closing Disclosure has replaced the HUD-1 Settlement Statement<\/a> and Truth-in-Lending Statement, combining them into one document.<\/p>\n","protected":false},"excerpt":{"rendered":"

A settlement statement is an itemized list of fees and credits in a real estate transaction. Find out how to read one.<\/p>\n","protected":false},"author":66,"featured_media":6027,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"cybocfi_hide_featured_image":"","footnotes":""},"categories":[322,341],"tags":[],"class_list":["post-6018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-logistics","category-closing"],"acf":[],"yoast_head":"\nHow to Read a Settlement Statement: Real Estate Closing Help<\/title>\n<meta name=\"description\" content=\"A seller's closing statement or settlement statement is an itemized list of fees and credits in a real estate transaction. 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