What does a Settlement Statement provide at the closing of an escrow?

A Settlement Statement provides a detailed record of all funds received and disbursed during the closing of an escrow. This document plays a critical role in real estate transactions, as it outlines the financial aspects of the closing process. It includes information such as the purchase price, deposits, loan amounts, fees, and any other costs associated with the transaction. This transparency ensures that all parties are aware of where funds are going and coming from, thus facilitating a smooth closing process.

In contrast, the other options do not adequately capture the purpose of the Settlement Statement. A list of outstanding debts focuses on liabilities that might not be completely relevant at the moment of closing. A legal claim against the property does not pertain to the financial transactions during the escrow period. Lastly, a notarized statement represents an executed document but doesn't reflect the comprehensive financial activities that occur at the closing. The core function of the Settlement Statement is explicitly tied to the records of funds related to the transaction, making it essential for both buyers and sellers in a real estate deal.