Comments on: Breaking Down the HUD-1 Settlement Statement http://www.biggerpockets.com/renewsblog/2008/05/27/breaking-down-the-hud-1-settlement-statement/ Learn, Network, Invest Sat, 11 Feb 2012 20:37:50 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Homeowner Mhttp://www.biggerpockets.com/renewsblog/2008/05/27/breaking-down-the-hud-1-settlement-statement/#comment-86333 Homeowner M Mon, 13 Sep 2010 20:07:27 +0000 http://www.biggerpockets.com/renewsblog/2008/05/27/breaking-down-the-hud-1-settlement-statement/#comment-86333 I recently went through the process of buying a new home and leading up to the closing day- requested a copy of the HUD-1 statement. Upon receiving it from my lawyer, I noticed a rather large ($6K+) discrepency from what I was estimating as needing to bring to the closing (in my favor). When I brought it to my lawyers attention, I was told that their numbers were accurate and that I was 'over-analyzing'. I questioned again and sent an email stating that the numbers seemed off, but was told that their numbers were correct. Upon completing the closing- and receiving a check from my lawyer with the balance ($3K)- I went about settling into my new home. Two days after closing, I was told that the lawyer DID make a mistake and that their calculations on the HUD-1 statement were not correct, and that I my numbers were accurate. I do not believe we should be responsible for having to pay out the difference now that we have closed and signed off on the HUD. Any advice?Thank you. I recently went through the process of buying a new home and leading up to the closing day- requested a copy of the HUD-1 statement. Upon receiving it from my lawyer, I noticed a rather large ($6K+) discrepency from what I was estimating as needing to bring to the closing (in my favor). When I brought it to my lawyers attention, I was told that their numbers were accurate and that I was ‘over-analyzing’. I questioned again and sent an email stating that the numbers seemed off, but was told that their numbers were correct. Upon completing the closing- and receiving a check from my lawyer with the balance ($3K)- I went about settling into my new home. Two days after closing, I was told that the lawyer DID make a mistake and that their calculations on the HUD-1 statement were not correct, and that I my numbers were accurate. I do not believe we should be responsible for having to pay out the difference now that we have closed and signed off on the HUD. Any advice?

Thank you.

]]> By: Ania Tateshttp://www.biggerpockets.com/renewsblog/2008/05/27/breaking-down-the-hud-1-settlement-statement/#comment-71004 Ania Tates Thu, 17 Sep 2009 13:22:44 +0000 http://www.biggerpockets.com/renewsblog/2008/05/27/breaking-down-the-hud-1-settlement-statement/#comment-71004 This is an excellent breakdown of the HUD1! Thanks for sharing, this was very informative! This is an excellent breakdown of the HUD1! Thanks for sharing, this was very informative!

]]> By: Joe Bhttp://www.biggerpockets.com/renewsblog/2008/05/27/breaking-down-the-hud-1-settlement-statement/#comment-59304 Joe B Wed, 13 Aug 2008 14:06:58 +0000 http://www.biggerpockets.com/renewsblog/2008/05/27/breaking-down-the-hud-1-settlement-statement/#comment-59304 This is the kind of information that future buyers and sellers really appreciate. I plan to add some related content to our site regarding this very soon. This is the kind of information that future buyers and sellers really appreciate. I plan to add some related content to our site regarding this very soon.

]]> By: Ilyce Glinkhttp://www.biggerpockets.com/renewsblog/2008/05/27/breaking-down-the-hud-1-settlement-statement/#comment-57119 Ilyce Glink Thu, 29 May 2008 18:56:56 +0000 http://www.biggerpockets.com/renewsblog/2008/05/27/breaking-down-the-hud-1-settlement-statement/#comment-57119 Great post. Many buyers and sellers never see the HUD-1 form until the day of the closing. You can ask your attorney to fax you a HUD-1 form a day before the closing, when typically all of the information is filled in. If you're not using an attorney, the title company ought to be able to get it for you. This is your opportunity to check what's on the HUD-1 and make sure it's correct. Great post.
Many buyers and sellers never see the HUD-1 form until the day of the closing. You can ask your attorney to fax you a HUD-1 form a day before the closing, when typically all of the information is filled in. If you’re not using an attorney, the title company ought to be able to get it for you. This is your opportunity to check what’s on the HUD-1 and make sure it’s correct.

]]> By: www.buzzflash.nethttp://www.biggerpockets.com/renewsblog/2008/05/27/breaking-down-the-hud-1-settlement-statement/#comment-57088 www.buzzflash.net Wed, 28 May 2008 11:03:23 +0000 http://www.biggerpockets.com/renewsblog/2008/05/27/breaking-down-the-hud-1-settlement-statement/#comment-57088 <strong>Real Estate Investing For Real | A BiggerPockets Investment</strong>Real Estate Investing Blog helps investors learn about real estate news, tips, how to landlord, tenants, flipping properties, wholesaling, buying, ... Real Estate Investing For Real | A BiggerPockets Investment

Real Estate Investing Blog helps investors learn about real estate news, tips, how to landlord, tenants, flipping properties, wholesaling, buying, …

]]> By: Joshua Dorkinhttp://www.biggerpockets.com/renewsblog/2008/05/27/breaking-down-the-hud-1-settlement-statement/#comment-57082 Joshua Dorkin Wed, 28 May 2008 05:44:23 +0000 http://www.biggerpockets.com/renewsblog/2008/05/27/breaking-down-the-hud-1-settlement-statement/#comment-57082 One of the best posts we've ever had, Josh! Nice work. One of the best posts we’ve ever had, Josh! Nice work.

]]> By: nuShackhttp://www.biggerpockets.com/renewsblog/2008/05/27/breaking-down-the-hud-1-settlement-statement/#comment-57079 nuShack Tue, 27 May 2008 23:01:44 +0000 http://www.biggerpockets.com/renewsblog/2008/05/27/breaking-down-the-hud-1-settlement-statement/#comment-57079 That's easily the most detailed breakdown of that document I've ever seen. Your post should be required reading home buyers. Odds are, most people sign and have no idea what all the numbers mean. That’s easily the most detailed breakdown of that document I’ve ever seen. Your post should be required reading home buyers. Odds are, most people sign and have no idea what all the numbers mean.

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