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Settlement Sheet

Settlement Sheet0001

A detailed list of expenses and costs to be fulfilled with regards to purchasing properties and involvement of an escrow

A Settlement Sheet in terms of real estate deals and agreements is necessary to keep a track of all the expenses made and charges to be paid by the seller and the purchaser both in several accounts leading to the sale of the house. The sheet and declaration contains everything from unearned insurances, water taxes and miscellaneous expenses pertaining to the seller of the house. When it comes to credits to the purchaser there are a number of things involved such as the general taxes, water tax, gas and electricity bill and existing mortgage and several other miscellaneous expenses.

The contents of the sheet

A total expense of the purchaser and seller is made from all the mentioned categories that are listed out and then fees paid to the escrow trust and broker commission along with revenue stamp expenses are made. A structure is also made with regards to the payment of the first and second mortgage principle and interest payments. Thus the Settlement Sheet provides excellent financial records with regards to all the expenses bore and the ones that need to be maintained by either of the parties.

The analysis made easy with online forms

With online availability of the documents and forms it has become easier to get the information and print it out for use. A lawyer is not required and therefore there are no extra expenses that need to be done with regards to keeping and organising information. It is very useful in giving a complete view of all that is required to track and record so that a comprehensive analysis can be made for all the expenses.

Settlement Sheet

Settlement Sheet

 

 

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Settlement sheet.  
Chicago Title and Trust Company

ESCROW TRUST DEPARTMENT

SETTLEMENT SHEET

Dated: _________                                                                                    Escrow Trust No. _________

DUE SELLER

1.
Purchase price
$
2.
Unearned insurance premiums

3.
Water tax paid in advance

4.
Coal and supplies on hand

5.
Miscellaneous

_________

TOTAL
$

CREDITS TO PURCHASER

1.
General taxes as pro-rated: Tax for year _________ $_____ January 1 to date

$

2.
Rents unearned as pro-rated

3.
Water tax due on meter reading of _________[date]

4.
Gas bill due on meter reading of _________[date]

5.
Electricity bill due on meter reading of _________[date]

6.
Existing first mortgage

Accrued Interest $_____ @ % from _________ to date

7.
Existing second mortgage

Accrued Interest $_____ @ % from _________ to date

8.
Wages accrued and unpaid

9.
Purchase money notes

10.
Miscellaneous

11.
Earnest money

12.
Cash to balance

_________

TOTAL
$

The settlement above set forth is hereby approved:

NOTE: This statement should be preserved for use in the preparation of income tax returns. Additional figures may well be inserted by each party, as indicated below:

EXPENSE OF SELLER
EXPENSE OF PURCHASER

1.
Title Policy

$
$

2.
Escrow Trust Fee

3.
Commission to Broker

4.
Recording

5.
Revenue Stamps on Deed or Notes

6.
Miscellaneous

TOTAL $ $

Principal and Interest payments on Mortgages are to be made as follows:

Net Proceeds          Total Cost

First Mortgage to

$                          $

Profit or loss

Second Mortgage to

$                           $

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  • real estate settlement sheet sample

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