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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Thanks!!!! (nt) Posted by zachary on July 03, 2003 at 6:20 PM In Reply to: No forms for HUD. posted by Ward-CA- on July 03, 2003 at 10:00 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: 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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