Whats My Next Step
I am currently working on a short sale and have gotten the following information.
1st lien is 134,459
2nd lien is 60,315
utility bill 435.00
taxes 4082.00
Taxes are current through 2002. my question is how can i be sure that their are no other liens on the property? What is my next step to try to short sell the property? Do i need a specific sales contract for a short sale or will a standard real estate form work? If I am missing anything please let me know. thanks to everyone for their help.
nathan 
hello
get a title search done and see what comes up under the sellers name
your missing alot of things nathan. I suggest you take a course on the process before going further.
Davidbarnes
Instead of telling me I am missing alot of things why don't you be more specific and list a few? Your answer is to vaige. appreciate any help
nathan
actually I thought your post was too vague. Thats what I should have said. sorry.
do you have the deed? Whose name is it in? your LLC? You actually need 2 standard purchase and sales agreements you need a HUD1 form filled out showing the net to the lendor, you need a release form or a power of attorney, you need an escrow release form, you need to have a title search done, you need to thoroughly consider how you will justify the value of the house to get your discount, you need to order the short sales package to determine what else you may need, you may need to show the lendor a listing, try and order the BPO when you order the shorts sales package.
to name a few things. thats why I said you should take a course or two for that matter. Short selling isn't something you want to try doing without some help. The lendors want things done a certain way. [ Edited by davidbarnes on Date 10/09/2003 ]
davidbarnes
Thanks for the help. I just want to make sure I am covering all my bases. Any other information you can give me to point me in the right direction I would appreciate.
have a great day
nathan