Recently had a client close and the title company (at first, they later provided a HUD-1 statement also) was using a "master settlement statement". They stated that in a cash sale it was not necessary to use a HUD-1. Neither myself (5 years as a REALTOR) nor the listing agent (14 years as a REALTOR, currently a principle broker) had ever seen one of these "master settlement statements". My question is (I couldn't decipher from HUDs website the answer) does RESPA require a HUD-1 for ALL real estate transactions (I'm in VA, but state doesn't matter since RESPA is a federal regulation).
2007-10-25
09:09:43
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3 answers
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asked by
DP1980
2
in
Renting & Real Estate