Final Settlement Statement
A detailed accounting of all debits and credits for both buyer and seller, showing exactly how funds are distributed at the close of escrow.
When Its Used
Prepared by escrow and provided to both parties at or shortly before closing. Shows the final numbers after all adjustments.
Key Sections
Purchase price; Deposits credited; Loan proceeds; Prorations (taxes, HOA); Closing costs; Commission payments; Net proceeds to seller; Cash from buyer
Common Mistakes
Not reviewing for accuracy; Missing credits or charges; Incorrect prorations; Commission amount discrepancies; Math errors
Pro Tip
Review carefully against the purchase agreement and all addenda. Verify commission amounts. Ensure all credits and debits are properly allocated.
