The settlement statement is the financial summary of your Santa Clarita Valley closing — every credit and debit in one place. Knowing how to read it lets you verify the numbers before money moves.
What is on a settlement statement?
It captures every dollar flowing through escrow. Brian Cooper serves the Santa Clarita Valley from our Simi Valley headquarters.
- Purchase price and loan amount
- Earnest-money deposit credit
- Prorated property taxes (Los Angeles County)
- Prorated HOA dues where applicable
- Title and escrow fees
- Recording and transfer costs
- Any negotiated credits
How to verify the numbers
Match the statement against your contract and lender disclosures. Confirm the price, deposit credit, agreed credits, and your cash-to-close. Question any line you do not recognize before signing.
- Confirm the price and loan. They should match your contract and loan documents.
- Verify your deposit credit. Earnest money should be credited to you.
- Check prorations. Taxes and HOA dues split as of the closing date.
- Review fees. Title, escrow, and recording charges.
- Confirm cash to close (buyers) or net proceeds (sellers).
Understanding prorations
Property taxes and HOA dues are prorated so each party pays for the period they own the home. In Los Angeles County, tax prorations are based on the county tax schedule. Escrow calculates these; verify the dates and amounts make sense for your closing date.
Buyer vs. seller statements
Buyers and sellers each receive their own statement. Buyers focus on cash needed to close; sellers focus on net proceeds after paying off any loans, fees, and agreed costs. See Sellers for the seller's net-proceeds perspective.
Why fees vary
Title, escrow, and other fees vary by provider and transaction, and amounts change over time. Do not rely on figures from a prior deal; confirm current amounts on your specific statement. This is general information, not financial advice.
Review your statement before you sign
Brian Cooper helps clients read the settlement statement and verify the numbers with escrow. Brian Cooper serves the Santa Clarita Valley from our Simi Valley headquarters. Start at Buyers or Sellers.
Frequently Asked Questions
What is a settlement statement?
It is the closing document that itemizes every credit and debit in the transaction, showing buyers their cash to close and sellers their net proceeds.
When do I see the settlement statement?
You typically review it before signing closing documents. Ask escrow for it in advance so you can verify the numbers without time pressure.
What are prorations?
Prorations split costs like property taxes and HOA dues so each party pays for the time they own the home, calculated as of the closing date.
Why is my cash to close different from my down payment?
Cash to close includes your down payment plus closing costs and prorations, minus credits like your earnest-money deposit. Escrow's statement shows the full breakdown.
Can I question a fee on the statement?
Yes. Review every line and ask escrow to explain anything unclear before signing. Figures vary by transaction, so confirm current amounts.
Does Brian Cooper help review closing numbers?
Yes. Brian Cooper serves the Santa Clarita Valley from our Simi Valley headquarters and helps clients verify the settlement statement. This is general information, not financial advice.
