What is another term for closing statement?

A closing statement is commonly referred to as a settlement statement, which is a detailed account of all financial transactions involved in a real estate closing. This document outlines the various costs and credits that are associated with the transfer of property ownership, including buyer and seller expenses such as loan fees, title insurance, and real estate commissions. It ensures that all parties are aware of the financial aspects of the transaction and provides a clear summary for both the buyer and seller.

While the other terms might seem relevant, they do not specifically denote the same meaning as a closing statement. For example, "Final Account" may refer to an accounting of an overall financial summary but lacks the specificity of real estate transactions. "Transaction Summary" is broader and does not capture the detailed breakdown of costs and credits provided in a settlement statement. "Consolidation Receipt" is not a standard term in the real estate industry, and thus does not accurately represent the document in question. Therefore, the term settlement statement is the correct and widely recognized synonym for a closing statement in real estate transactions.