HUD-1
Ive read many articles about short sales and It seems that 1 subject keeps comming back. The HUD-1 form. Is it really that important ? Im new to short sales but Im gonna try one and Im to the point of filling out the HUD-1 form. Any advise??
Thanks 
i have learned from pure frustration about these little pieces of paper that most lenders want you to generate. I have used my daughter to bail me out most of the time...she dose closings.
The one thing they want to see is what will it cost them in the end to close the short sale...so on the right side ..there side, you need to show them their hidden costs...such as property taxes not yet paid, like last years, and if there is a realtor they want to know who is paying those fees and who that realor is.
I structure my offer to have next to nothing on there side, just so they can see clearly that we are picking up the standard closing fee on our side...
The danger hear is that you forget something that will come up at closing and then you have a cash to close issue. So I always build in some room for error in my figures.
I have been so frustrated with this and the web sites that offer this service that I have planned a invewsting cruise out of Jacksonville this fall and one of the main trainers I am bringing along is 2 paralegals that know their stuff.
You may enjoy the site the www.realesmartplanner.com to see more on this.
Alegreir looks like he has some good books on this.
I would love to be contacted by him to talk about this information further.
No problem, PM me when you have the opportunity.