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
434-973-7474
Tucker@TGBlaw.com
http://www.tgblaw.com/
http://www.tgblaw.blogspot.com/
