I am working on my first short sale deal.

 

We got the approval, was instructed to upload a certified HUD-1 3 days before closing?

 

I wonder who will prepare this HUD-1. Does it need to include buyer's loan information, just like the final HUD-1 in a normal sale?  Do both buyers and owners need to sign and certify the HUD-1? How to do the certification?

 

The buyer's bank has problem providing the numbers for the HUD-1 5 days before closing. Not sure how we can push the bank to provide such numbers.

 

Thanks for any of your help!

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i have a closing in a few days...B of A told me i have one final task to complete. They want me to upload certified HUD, closing date, upload executedpromissory note(which we dont have), upload executed insurance premium letter(dont have), upload executed approval letter and upload executed amended approval letter. Only closing date, certified hud, and exec approval letter are required because those have an asterisk. Does all this happen after we close? And i only got the amended approval letter...didnt get the new exectued approval letter. Any advice would be great. I am confused
Thanks



Jaclyn Erwin said:
It should be the closing attorney to prepare this prior to the closing. When you received the BofA Short Sale approval, it came with wiring & approval instructions. This should be provided to the closing attorney/settlement company. From there, they will prepare a HUD for final approval to BofA prior to closing. :)
Hi It’s confusing especially when you are doing your own Short sales, Usually you just have to send with an asterisk.
You just need to write the closing date, upload the Approval letter ( the last one that you received from the lender, ) Ask your escrow to give you the certified Hud and the unearned insurance form.
They usually send the unearned insurance form with the approval letter , work sheet. In case that the negotiator forgot to send one ( common ) just send an email to the negotiator and ask for the form. The unearned insurance form has to be signed just for the seller’s
You have to upload the Certified Hud, The approval letter, the unearned insurance premium
( signed by the seller’s ) in your computer and save it , so you can uploaded through Equator.
You don’t have to worry for those that doesn’t apply.
I hope this help !

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