What is the purpose of a HUD-1 form?

A HUD-1 form is an official document used in real estate transactions in the state of Washington. It lists all of the costs associated with a real estate transaction, such as closing costs, fees, and other charges. It is used to ensure that all parties involved in the transaction understand all of the costs and what their responsibilities are. The purpose of the HUD-1 form is to help buyers and sellers understand how much money they would need to pay or receive in a real estate transaction. It also serves to make sure that all of the costs associated with the transaction are accounted for and to protect the parties involved from any future legal issues. The HUD-1 form is typically provided by the closing agent of the transaction, and it must be completed before the closing takes place. It is important that all of the information listed on the form is accurate, as any discrepancies could lead to legal action. The HUD-1 form is an important document in real estate transactions in Washington and can help to protect all parties involved. It is important that it is completed carefully to ensure that all costs associated with the transaction are accounted for and to avoid any potential legal issues in the future.

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What is the purpose of a HUD-1 form?

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