A Closing Statement is a document used in various financial transactions, particularly in real estate. It summarizes the final details of a deal, including the purchase price, closing costs, and any adjustments made. This statement is essential for both buyers and sellers, as it provides a clear overview of the financial aspects of the transaction. In the context of a real estate transaction, the Closing Statement is often prepared by the title company or closing agent. It ensures that all parties understand their financial obligations and entitlements, helping to prevent misunderstandings and disputes after the deal is finalized.