HUD-1 Contents?
I'm doing my first HUD-1 for a short sale, and I don't know what costs to include apart from my purchase offer price. Does anyone have any good advice about how to fill those out without having to consult an escrow company for assistance?
Also, has anyone used the services of www.EasyHud.com, and, if so, do you recommend it?
Thanks!
Martin
Does any one have an Excel spreadsheet they can share that will create the numbers based on the various input? Even if it is half baked, starting with something is at least a start.
email me if you have something
Brenda
**Please See My Profile**
Try these:
http://www.lightning-mortgage.com/HUD1Explained.htm
http://www.hudclips.org/sub_nonhud/html/forms.htm
Shortsale Pro, thanks so much! That's incredibly helpful!
Do you know if the forms at HUDCLIPS will create the numbers based on the various inputs?
Martin
I've no idea. I do know that many costs are state specific...
You should at least get a list of typical closing expenses from a local real estate broker or mortgage broker... and then you can begin completing the estimated 1.
I know that HUDCLIPs may be free for a while, then they charge, while the site I provided is a free.
I have a problem with Sites that ask you to provide, in essence, the location of your deal. Even these sites that provide free comparable market data.
Someone could be sitting there and say, "Something is going on at such and such an address.... let's beat them to it."
Afterall, this is the information age. Information is power. Power corrupts.
Hi martin1g,
If you want an automated way to complete a HUD, go to
www.easyhud.com
For a fee of about $10 bucks, this web site will do what you are looking for!
Best of Success!
BAMZ
would it help any one to look at an actual HUD-1 (prepared by Fidelity Nat. Title) ?
mcldavid
Yes it would!
Can you tell us how we can access the completed form you're referring to?
I could fax it
That would be great. Go ahead and fax to 775-295-0957
They following are standard costs on a HUD-I:
1) DOC PREP FEE: $75.00
2) NOTARY FEE: $15.00
3) TITLE EXAM: $150.00-$225.00
4) TAX CERTS $62.00
5) TITLE INSURANCE: PRORATED ON COVERAGE AMOUNT
6) ENDORSEMENTS: REQUIRED FROM BANK USUALLY $50.00-$200.00
7)SETTLEMENT FEE: $100-$300.00 (SOMETIMES CALLED ATTORNEY FEE
CLOSING PROTECTION LETTER: REQUIRED IF NOT PAYING CASH BY LENDER
9) LENDER FEE IF NOT PAYING CASH
10) LIEN LETTER FEE: SET BY MUNICIPALITIY WHERE PROPERTY IS LOCATED
THESE ARE THE STANDARD FEES