refers to the particular time when all the lender’s and buyer’s funds have been deposited into the settlement attorney’s escrow account, the lender’s documents have been signed, the deed and all other related documents have also been signed, and all financial calculations are complete and have been disclosed in the HUD-1 settlement sheet. The HUD-1 settlement sheet is issued by the US government to record all financial transactions involving real estate. The document is prepared and issued by an attorney, and every party is supposed to have a copy of the document available upon request. One should also understand that the attorney does not represent any particular party during the closing. The attorney represents all parties without bias to a particular party. The attorney is supposed to ensure that the buyer’s and the seller’s interests are expressed in the contract accordingly. The buyer is the one who chooses the attorney, though in the end, both parties have to pay a small fee for their services. If either party would be unable to attend the settlement in person for any reason, they can be represented
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