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?
Where did you get your Net Sheet? Do you have to subscribe to a website to receive it?
Thanks. Julie
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 ]
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.
For the HUD1, check my profile for email. I can send you a free one in .pdf form.