how do you obtain a sellers closing costs statement
Hello everyone how does one find out what out what the sellers cost at closing will be. I call the title company and they told me to fill out a loan application and get a good faith estimate. I don't want to fill out a loan application. I am planning to flip this property to a retail buyer. I have power of attorney and contract on the property. All I want to get is a net sheet to send in to the mortgage company. To justify my case for a short sale.
If you searched through the forums, then you would have found a post called Need a "net sheet".
If you don't know how to fill out a Hud-1 form, then you may want to check out this website called How to Read a Settlement Statement - HUD-1.
Hope this helps.
Tanya
Bigdredd.
If you send me a private message or post your email address here, I'll send you the "net sheet" that I use. You'll simply fill in as much information as is appropriate in your situation. The bottom line is that the lender will want to know roughly how much they will either make or lose on the deal.
[addsig]
If you don't know how to fill out the net sheets showing estimated seller's closing costs, I would agree with checking out the link at about.com. Also, you can try www.EasyHUD.com and it will generate a completed HUD-1 net sheet that you can submit to the lender in your short sale package. Or, just call a different title company than the one you tried. Tell them you want a schedule of fees faxed to you.