1200)      Government Recording and Transfer Charges

1201)      Recording fees:  Deed $             ; Mortgage $                        ;

                Releases $                   

These are allowable charges for the recording of required documents.  Generally, the recording of the warranty deed and mortgage is charged to the buyer.  The recording of releases is charged to the seller.

      1202)      City / County Tax / Stamps:  Deed $          ; Mortgage $                      :      

Many cities and counties require tax stamps when real estate is purchased.  The warranty deed stamps can be charged to either the buyer or seller.

      1203)      State Tax / Stamps:  Deed $          ; Mortgage $                  :

Some states require tax stamps when real estate is sold or purchased.  These stamps can be a buyer or seller charge.

1204-1205)         Extra blank lines for items unique to the closing of this particular loan.                        

1300)             Additional Settlement Charges:

1301)      Survey        to                    :

Most lenders require a survey be performed on the property prior to closing.  The survey company certifies to the lender the property boundary lines.  This is generally a buyer’s expense. 

      1302)      Pest Inspection                to                    :

Pest inspection certifications are generally required on all loan closings.  The lender wants to be assured there are no termites or termite damage present in the house.  This is generally a seller’s expense.

1303-1305)   Extra blank lines for items unique to the closing of this particular loan.   

1400)             Total Settlement Charges (enter on lines 103, Section J, and 502 Section K):

This is total of each of the buyer’s column and the seller’s column.

In most cases the HUD 1 – Settlement Statements must be signed by both the buyer and the seller.  Proper legal names are to be typed and signed as indicated.

ADDENDUM TO HUD 1 – SETTLEMENT STATEMENT

The FHA requires this addendum as a certification that the borrower and seller received copies of the Settlement Statement and that the receipts and disbursements are true and accurate.  The Settlement Agent also has to certify to the same information.  A closing date is required on this form.