HUD-1 is the Housing and Urban Development Settlement Statement. It is a five page form outlining buyer's costs and sellers receipts. The first page contains summary data and shows cash at settlement to/from the seller and the buyer. Subsequent pages show the details. Upon receipt of the lender required fees the title company prepares a preliminary HUD-1, which is reviewed by the Realtors. After corrections are made a revised HUD-1 is prepared. The buyer obtains a cashiers check for the HUD-1 amount. Corrections less than $500 can be cleared with personnel checks The buyer and seller get a final HUD-1 at closing after the Title Escrow officer reviews it with them.