Jun 25, 2009

Tip 22-2009: Short Sale (Proposed HUD)

Short Sale (Proposed HUD):

The short sale lender requires a preliminary HUD to review as soon as there is a potential contract. It is important to provide whoever is preparing the HUD with as much correct information as possible. Some important matters not to forget are: HOA dues (especially if they are delinquent); well, septic and termite (who is supposed to pay); real estate commission (always start with a full commission); number of loans currently outstanding; and, whether real estate taxes are current or delinquent. Finally, sometimes a one owner title search may be helpful to determine if there are any other outstanding judgments or liens.

Please contact me if you have any questions.

William D. Tucker, III
Tucker Griffin Barnes P.C.
Charlottesville, Virginia


  1. Buyers must do thorough research on some info about short sale for lenders may not disclose all necessary details. There maybe some delay on the approval process due to the condition of the documents.

  2. This Charlottesville real estate advice is really good! I know of a certain website which promotes
    real estate business
    in the US. This company is highly successful in satisfying its clients. It helps customers to buy and sell property. This company is based on ethics and accountability and is based on a turnkey property management system.

  3. Thanks for the informative tip friend but lately recession has kept me away from all those technical details. I hope to start churning my mind soon on these issues again.