Watch this video about 10 times and you should be good to go:

https://www.youtube.com/watch?v=rhPbmWjbYz8

BS - Buyers on the left, sellers on the right.

What is paid by each party is a debit and what is gained or paid TO each party is a credit.

It's really simple accounting that you learned in high school. Don't overcomplicate it!

Know what you are doing or rely on a good closing person to handle this.

It's actually a very good idea to get to know the closing documents because I've seen escrow companies make mistakes on multiple occasions.

I am familiar with the closing docs and check them prior to closing to see if anything that concerns my clients are out of place or unaccounted for but the responsibility for creating these documents falls to the mortgage processing these days. 

The best I can do as the agent for my clients is make sure everything goes smoothly throughout.

In Massachusetts, the closing attorney prepares the Closing documents. It's good to know how to read the HUD. At my last closing, there was an error that a very astute buyer picked up. 

Watch the video Richard Weeks provided.  I always review the closing statements prepared by the escrow officer - yes, I have found errors that needed to be corrected AND that is why I get a copy of the statement before we are scheduled to sign off.

Except for the test, our attorneys do all this stuff in IL. 

Never had a trick for that.

As an ex-banker, I have no problems with debits and credits.

The escrow company takes care of the closing paperwork including HUD forms.

Daniel,

You have wonderful answers.  The key is to know every part of the contract.  A

Escrow handles creating the HUDs, so we don't have to worry about it.

In my entire career I've never had to "use" debits and credits on the HUD form because I'm not a closer for a title company.

Richard Weeks has  a great suggestion. 

Just remember the debits take away and the credits give.  

that's what the closing attorney's office prepares in our state.... agents do not deal with it...

What you add or subtract is pretty logical. UD-1 isn't used anymore except for cash purchases.

I keep the number of my escrow officer handy when I have a question

The title will create the closing disclosure BUT we will have to review for accuracy.  Call them with any questions that you have.

You have some good suggestions.

Just think it through, it's pretty logical.

The good thing is the closer, title company or closing lawyer provide the HUD. It is not a job of the Realtor. You should know how to explain a hud to your client though. 

No tricks. Practice makes perfect!

Remeber this is coordinated from the lender and the title company.

You got great answers. 

You got some great answers.

I let the cloing company handle this

Let the closing attorney explain it all.  ;0

Lots of good suggestions here.