Set up a Real Estate Closing Statement

Since Smokeball becomes the home for important Closing Details and Property Details, it is simple to set up a closing statement and then automate through the Forms & Templates Library. This article walks through how to set up a closing statement and generate a closing statement.

How to Set Up Closing Statement

1. Open Closing Statement in Matter Details

2. Modify the existing closing statement information

• Use arrows on left side to change order of items
• Right click to edit and add values to each item

3. You can add additional or custom Credits or Debits to the closing statement. Note: Adding an item may only add it to one particular matter's closing statement. See the next step if you want this item to appear on all closing statements.

4. To add items across all matters and default items:

• (1) Under the closing statement, select Manage Standard Items.
• (2) Select or deselect default items.
• (3) Add additional custom items or use the arrows to change the order of items.
• (4) Select Apply Standard items to Current Matter if you want any changes to be applied to the current matter you are in.

How to Generate a Closing Statement for Illinois Buy/Sell Real Estate Matters

Illinois Buy/Sell Real Estate matters have access to a default Closing Documents folder and Closing Statement.

1. From the Forms & Templates Library, navigate to the Closing Documents folder and open the Closing Statement document from the list of files.
2. The closing statement will then open in Word. Select the Save to Smokeball button on the Smokeball Word Ribbon to save the document to the matter and right click to convert the document to a PDF before sending it to a client. You can also combine several closing documents into one PDF as well.
   

How to Generate a Closing Statement (all other states)

There are two ways to generate a closing statement:

1. Submit your closing statement document to our legal configuration team for automation.
2. Create an automated closing statement form on your own.
   • Learn more about creating automated documents.

Once the closing statement is generated, it is easy to add it to the forms and templates library. The example below is for a real estate sell matter. 

1. Open the Forms and Templates Library and navigate down to Real Estate – Residential > Sell.
2. Right-click on the Sell folder and select Add a Folder. We advise naming this folder “Closing Documents.”
3. Right-click on the Closing Documents folder and select Add a form/letter.
4. Select Browse for an existing document, locate the closing statement file on your computer, and then select Create. 

Did You Know

• Smokeball has different formats for the closing statement. To change the format, you'll need to right click and modify the document's automation. Learn more about how to automate documents.