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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] No forms for HUD. Posted by Ward-CA- on July 03, 2003 at 10:00 AM In Reply to: HUD?? posted by zachary on July 03, 2003 at 9:21 AM : Ward, : When doing your own closings without the use of an escrow or closing agent do you give the seller a HUD statement? : I'm working on a pre-foreclosure deal (that will probably fall thru...but need the question answered any ways!) where I will be doing the closing myself via grant deed to trustee, trust agreement and assignment of benificial intrest. : What paper work do I need to give the seller? : When I sell the property will the closing agent want to see a HUD statement for the transaction when I bought the place? : thanks, : Zachary -=-=-=-=-=-=-=-=-=-=- Zachary, When we put together a deal without the benefit of an escrow we don’t deal with HUD paperwork. #1. You will prepare all the paperwork that escrow would normally create for the deal. That would be the: A. Declaration of Trust, B. Grant Deed from the owner to the trust’s Trustee, C. Assignment of Interest in Trust from owner-beneficiary to the buyer, D. Possibly a promissory note and trust deed from buyer (via the trust) to seller D. Letters from the owner to the Lender and Insurance Co., E. EPA/Notice of Cancellation/Addendum to EPA from buyer to seller, and F. Affidavit of Deed from the seller to buyer. #2. Based on my experience and other graduates, we aren’t asked to fill out any HUD forms when reselling the property to our end user. Hope this helps. Follow Ups: Thanks!!!! (nt) zachary 6:20 PM, 07/03/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : When doing your own closings without the use of an escrow or closing agent do you give the seller a HUD statement? : : I'm working on a pre-foreclosure deal (that will probably fall thru...but need the question answered any ways!) where I will be doing the closing myself via grant deed to trustee, trust agreement and assignment of benificial intrest. : : What paper work do I need to give the seller? : : When I sell the property will the closing agent want to see a HUD statement for the transaction when I bought the place? : : thanks, : : Zachary : -=-=-=-=-=-=-=-=-=-=- : Zachary, : When we put together a deal without the benefit of an escrow we don’t deal with HUD paperwork. : : #1. You will prepare all the paperwork that escrow would normally create for the deal. That would be the: : A. Declaration of Trust, : B. Grant Deed from the owner to the trust’s Trustee, : C. Assignment of Interest in Trust from owner-beneficiary to the buyer, : D. Possibly a promissory note and trust deed from buyer (via the trust) to seller : D. Letters from the owner to the Lender and Insurance Co., : E. EPA/Notice of Cancellation/Addendum to EPA from buyer to seller, and : F. Affidavit of Deed from the seller to buyer. : #2. Based on my experience and other graduates, we aren’t asked to fill out any HUD forms when reselling the property to our end user. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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