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How to Organize Pages Settlement Statement

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In this video, Jerry Norton discusses the importance of understanding closing statements in real estate wholesaling and flipping. He explains that during a closing transaction, the title company provides both the buyer and seller with a closing statement that details all financials involved. Norton emphasizes that knowing how to read this statement is crucial for success in real estate deals. Additionally, he promotes the 10k Club, a program designed to reward participants for identifying distressed properties. He invites viewers to subscribe to his channel, Flipping Master, for further insights into making money in wholesaling and flipping real estate.

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What is a settlement sheet?

noun. : the statement of a bank teller or department summarizing the days transactions.

What is considered a settlement?

1. An agreement that ends a dispute and results in the voluntary dismissal of any related litigation. Regardless of the exact terms, parties often choose to keep their settlement agreements private.

What is on page 1 of the closing disclosure?

Page 1: General Closing Information: In this section of the closing disclosure, you will want to make sure that all the basic information is correct. Does your lender have the correct closing date, title company, property address, and sales price?

Is settlement the same as closing?

A closing is often called settlement because you, as buyer, along with your lender and the seller are settling up among yourselves and all of the other parties who have provided services or documents to the transaction.

How many pages is a closing disclosure?

A Closing Disclosure is a five-page form that provides final details about the mortgage loan you have selected. It includes the loan terms, your projected monthly payments, and how much you will pay in fees and other costs to get your mortgage (closing costs).

How do I organize my mortgage documents?

Ideally, you should store original paper mortgage documents within a fireproof and waterproof safe in your home or in a safe deposit box at your bank. At the very least, store paper documents in a carefully organized file cabinet that you can lock. Try to organize your papers in a binder or folder, Ang says.

What is a settlement page?

A settlement statement is a document summarizing all costs owed by or credits due to the homebuyer and seller (or borrower if refinancing). The document also includes the purchase price of the property, loan amount and other details.

What is the settlement statement also referred to as?

Mortgage loan settlement statements, used in real estate transactions, are often referred to as closing statements.

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