As a Boston condo buyer, when you’re at the closing you’ll notice that your lawyer will present to you a HUD Settlement. What is a HUD Settlement Statement? Simple answer its a Boston condo closing document that will outline all the gross closing costs involved in a Boston condo sales transaction. The HUD Settlement Statement is prepared by the Title Company.
In the HUD Statement you’ll see two columns the first column applies to the the Seller and gives specific payoffs, expenses and income received as a result of the Boston condo sales transaction. The left column applies the the Buyer of the Boston condo transction of all expenses that he/she will incur.
The video below goes into further detail on what a HUD Statement is all about.
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