Net Sheet For 1st Short Sale

When doing a short sale, on the Hud1 statement, is it better to show $0 from the seller or, the settlement amount charge? I filled out my hud sheet on ****Must Reach Senior Investor status before posting URL's*** and it's showing $13,500 due from seller (which is the total settlement charges including back taxes, liens, etc.). Would it be better if I lowered line 504 (the payoff of 1st mort.) by $13,500 so that it will reflect $0 cash due from seller?

Comments(4)

  • jreagan3311th August, 2003

    Where did you get your Net Sheet? Do you have to subscribe to a website to receive it?

    Thanks. Julie

  • victorb15th August, 2003

    You can fill out the hud 1 @ a web site that I can not post a name to. PM me and I will give you the site. Not sure if I am allowed to post it.

    I saw it in another post that was allowed, they charge 19.95 /mo and have a rolodex of banks. [ Edited by victorb on Date 08/15/2003 ]

  • jorge12117th August, 2003

    on a short sale you will be paying the seller's closing costs (back taxes, etc). The net result to seller from seller's proceeds must be zeroed out.

  • alubeck27th August, 2003

    For the HUD1, check my profile for email. I can send you a free one in .pdf form.

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