Short Sale HUD
Okay, I have a question about the HUD for the lender on a short sale package. I took the Ron LeGrand one-day course and I have the materials... I'm looking at the samples and I still can't answer my own questions.
Commission, recording fees, updating title, title insurance, all the things that are normally the Seller's responsibility, do I charge them to the Buyer or Seller on the HUD? One sample just pretty much lists the sale price and no expenses, the other I can't understand where the charges go. What do I subtract on the Seller side? Can you do it either way, depending on how you want the numbers to look, or is there a specific way it's supposed to be done?
Can someone give me some guidance or step-by-step instructions for completing this HUD, or refer me to some materials / website / anything that can give me more info?
Also, while I'm at it, can anyone recommend any books or courses on short sales?
I'm close on this one - lender just ordered the appraisal... I just need to get them the HUD.
I'd appreciate your help, and John, I would have waited for Friday but we're not talking short sales 
Commission, recording fees, updating title, title insurance, all the things that are normally the Seller's responsibility, do I charge them to the Buyer or Seller on the HUD? One sample just pretty much lists the sale price and no expenses, the other I can't understand where the charges go. What do I subtract on the Seller side? Can you do it either way, depending on how you want the numbers to look, or is there a specific way it's supposed to be done?
When doing a short sale and giving the bank an estimated net sheet or HUD1 this is just an estimate and the bank pays their own closing costs. The seller who you are doing the short sale for would have the short sale amount on their side and their normal closing costs. I hope this answers your question. Also I just completed Sharon And Dwan course on short sale secrets, I loved it..
Thanks, I will check that course out. I assume it's in the store.
Acutally- I ordered it through my real estate investment.. My advice plan to spend money on education..Good luck to you.
Quote:
On 2003-05-20 14:11, alarson wrote:
Okay, I have a question about the HUD for the lender on a short sale package. I took the Ron LeGrand one-day course and I have the materials... I'm looking at the samples and I still can't answer my own questions.
Commission, recording fees, updating title, title insurance, all the things that are normally the Seller's responsibility, do I charge them to the Buyer or Seller on the HUD? One sample just pretty much lists the sale price and no expenses, the other I can't understand where the charges go. What do I subtract on the Seller side? Can you do it either way, depending on how you want the numbers to look, or is there a specific way it's supposed to be done?
Can someone give me some guidance or step-by-step instructions for completing this HUD, or refer me to some materials / website / anything that can give me more info?
Also, while I'm at it, can anyone recommend any books or courses on short sales?
I'm close on this one - lender just ordered the appraisal... I just need to get them the HUD.
I'd appreciate your help, and John, I would have waited for Friday but we're not talking short sales <IMG SRC="images/forum/smilies/icon_lol.gif">
I have a course on short sales that is very,very good by sharon restrepo & dwan-bent-twyford on short sales. Would be willing to part with it because we have 2 of them. e-mail me at tdelo56@yahoo.com for info.