A document that gives a breakdown of the buyer's and seller's closing costs

A closing statement gives you the final record of the fees paid at closing. In some states, you receive the closing statement on or after the closing date. If your property closes in escrow, you usually receive the final closing statement in the mail - normally within 24 hours after the deed of trust is recorded. The lender, broker, escrow agent or attorney can prepare the closing statement. A closing statement is also called a settlement statement or HUD-1.

See: Closing costs