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kcash0314
41 Posts |
 Posted - 02/23/2008 : 8:21:05 PM
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If you have a prospect who is looking to purchase a property, and they have a property that needs to be sold first, what information is necessary to gather upfront to avoid any surprises down the road and to be prepared for closing? Thanks.
KC |
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mdiclemente
986 Posts |
Posted - 02/23/2008 : 8:26:13 PM
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| The HUD from closing is normally enough. I have been asked for more in the past, but that's a good starting point and will probably be enough. |
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kcash0314
41 Posts |
Posted - 02/23/2008 : 9:05:21 PM
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Thank you. What kind of other stuff have you been asked for? Just curious. quote:
Originally posted by mdiclemente
The HUD from closing is normally enough. I have been asked for more in the past, but that's a good starting point and will probably be enough.
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mdiclemente
986 Posts |
Posted - 02/23/2008 : 9:17:21 PM
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quote:
Originally posted by kcash0314
Thank you. What kind of other stuff have you been asked for? Just curious. quote:
Originally posted by mdiclemente
The HUD from closing is normally enough. I have been asked for more in the past, but that's a good starting point and will probably be enough.
Satisfaction letter
Letter from closing company confirming that the loan not only closed, but funded
confirmation of proceeds paid to seller from escrow
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efrederick
820 Posts |
Posted - 02/24/2008 : 12:57:57 AM
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[/quote]
Satisfaction letter
Letter from closing company confirming that the loan not only closed, but funded
confirmation of proceeds paid to seller from escrow
[/quote]
I have been seeing this more and more. |
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kcash0314
41 Posts |
Posted - 02/24/2008 : 06:41:53 AM
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Thank you. What is the lender worried about? The funds being stolen by the attorney?quote:
Originally posted by efrederick
Satisfaction letter
Letter from closing company confirming that the loan not only closed, but funded
confirmation of proceeds paid to seller from escrow
[/quote]
I have been seeing this more and more.
[/quote] |
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jvanpetten
2179 Posts |
Posted - 02/24/2008 : 07:18:58 AM
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| A signed HUD does not mean the loan funded. I have heard of loans going all the way to closing, but not funding. |
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