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The HUD-1 Addendum Form is used in conjunction with the HUD-1 Settlement Statement to provide additional information about the real estate transaction. It can be used to clarify certain aspects of the transaction, such as who is responsible for certain fees or the precise amount of funds paid at closing. It also provides an opportunity for the parties to make additional disclosures that they might not have had space for on the HUD-1.

The deadline to file HUD 1 Addendum form in 2023 is not yet determined. It may vary depending on the state or local rules.

The penalties for late filing of a HUD 1 Addendum form vary depending on the jurisdiction. Generally, the penalty for late filing of a HUD 1 Addendum form can include fines, increased costs, or other penalties imposed by the court.

The HUD-1 Addendum form is a document used in real estate transactions to provide additional information and details related to the HUD-1 Settlement Statement, a standard form used to itemize services and fees charged to the borrower during the closing process. The addendum provides supplementary information that may be required by the lender or necessary to clarify certain aspects of the transaction. It is typically used to disclose additional loan terms, adjustments, or other details that were not explicitly included in the standard HUD-1 form.

The HUD-1 addendum form is typically filed by a real estate agent or settlement agent, also known as the closing agent. This form is used to provide any additional information or clarification regarding the closing costs and fees associated with a real estate transaction.

To fill out the HUD-1 Addendum form, follow these steps: 1. Obtain the form: You can download the HUD-1 Addendum form from the official website of the U.S. Department of Housing and Urban Development (HUD) or any reliable legal forms website. 2. Provide property and transaction details: Fill in the required information about the property and the transaction, including the property address, borrower's name, seller's name, and settlement date. 3. Fill in the sales price: Enter the agreed-upon sales price of the property. 4. Specify adjustments: If there are any adjustments to the sales price, such as seller credits or prorated property taxes, indicate them in the appropriate fields. 5. Input loan terms: If applicable, provide details about the loan, including the type (conventional, FHA, VA, etc.), loan amount, interest rate, and loan term. 6. Disclose settlement charges: List all settlement charges involved in the transaction, such as loan origination fees, appraisal fees, title fees, and other closing costs. Specify the dollar amount for each charge and identify whether it will be paid by the buyer or the seller. 7. Summarize adjustments: Calculate the total adjustments made in the transaction, which can include items like seller credits, prorated taxes, homeowner association fees, etc. 8. Calculate cash to/from borrower: Determine the amount of cash that the borrower needs to bring to the closing or the cash they will receive from the transaction. This is calculated by subtracting the total adjustments from the sales price. 9. Review and sign: Carefully review the completed form to ensure accuracy. Once satisfied, sign the form along with the seller and any necessary witnesses. 10. Submit and retain copies: Submit the completed HUD-1 Addendum form as required by your lender or settlement agent. Make sure to keep copies of all documents for your records. Please note that it is advisable to consult with a real estate attorney or a professional during the completion of legal forms to ensure compliance with applicable laws and regulations.

The HUD-1 Addendum form, also known as the Settlement Information for the HUD-1 IRS Transaction, should include the following information: 1. Borrower/Seller Information: Name, address, and taxpayer identification number (TIN) of the borrower and seller for the transaction. 2. Settlement Date: The date of the real estate transaction. 3. Property Information: Address of the property involved in the transaction. 4. Loan Information: The loan amount, interest rate, term, and type of loan. 5. Settlement Charges: All charges related to the settlement, including origination fees, points, appraisal fees, credit report fees, title search and insurance fees, survey fees, and any other charges associated with the transaction. 6. Prepaid Expenses: Any amounts paid in advance for items like property taxes, homeowner's insurance, mortgage insurance, and interest on the loan. 7. Adjustments: Any adjustments made for items like rents, security deposits, shared expenses, or other credits or charges between the buyer and seller. 8. Settlement Funds: Total amount paid at settlement by the borrower, seller, and any other party involved. 9. Attestation: A statement signed by the borrower and seller affirming that the information provided is true and accurate to the best of their knowledge. Please note that the specific requirements for the HUD-1 Addendum form may vary depending on the regulations of the jurisdiction where the transaction is taking place. It is advisable to consult with a qualified professional or review the relevant regulations to ensure compliance.

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