(801) 763-0800
Horizon Title
826 E State Rd, Ste 130, American Fork, UT
Real Estate Documents Needed at
Closing
Most of the documents related to
transfer of ownership of your new Utah County
home must be signed by the seller and delivered
to you, the buyer. It’s important to review
these for accuracy and completeness. Here is a
list of some of the documents you should become
familiar with when buying a home in Utah County.
Document: The Deed
The deed transfers the home from the seller to
the buyer. Utah State law dictates its form and
language, but you can choose the form of
ownership in which you take title: individually,
in trust, in joint tenancy or in other
tenancies. The deed is given to the Utah county
recorder of deeds to record, and made public.
Recording your deed puts you in the property’s
chain of title so that anyone looking at the
Utah county records can see that you took your
title from the prior rightful owner, and
therefore, own the property. You will get a copy
of the deed.
Document: Bill of Sale
The bill of sale. This transfers
all of the personal property that is being sold
along with the house, such as appliances, or any
other personal items included. The document will
typically list the property to be transferred,
or refer to the contract that lists the personal
property.
Document: Affidavit of Title
The affidavit of title or seller’s
affidavit. This is a notarized statement by the
seller confirming ownership of the home and
describing any known title defects such as
leases, liens, or work on the property that
could potentially create liens, boundary line
disputes, or outstanding contracts for the sale
of the property.
Document: Settlement Statement of
HUD-1
The settlement statement which is often referred
to as the HUD. This document shows all of the
monetary transfers between the seller and buyer,
including the purchase price, down payment
amount, payment of real estate brokers’
commissions, escrow fees, title insurance fees,
county recorders fees for the recording of the
deed and mortgage, transfer tax payments,
credits for tax payments, and agreed repair
credits. This information is used by the title
company to prepare the HUD-1. Both the buyer and
seller will sign this document. If you have a
Utah County Realtor helping you with your
transaction your Realtor should be present and
they should review this document for errors or
ommissions.
HUD-1. The HUD-1 is the universal
settlement statement that shows all of the money
transfers by and among all of the parties to the
closing. This document can be delivered to you
prior to attending the closing for your review.
If you want to see it before closing you will
have to make this request prior to closing. It
is required to be used for all closings
involving a federally insured lender by the Real
Estate Settlement Procedures Act (“RESPA”). (See
12 U.S.C. §§ 2601–2617.)
Realtor in Saratoga Springs Utah
