I have a couple of short sale packets that I’m trying to put together, is there anyway that I can prepare a professional HUD1? Not a netsheet to seller but the HUD1 that breaks down what the borrower will try to buy the property for. Are these pretty hard to calculate? Is it really neccessary to have an Escrow officer to create one for me?
then go to forms and you’ll see HUD 1.
you need good coaches 
Here’s a good (and free) explanation of it: http://www.thompsonsrealty.com/HUD-1_Settlement_Statement_Info/page_1555104.html. It’s not the simplest form in the world, but it is not as complicated as it looks at first glance.
My question about the hud-1 is since we (investors) are already asking the bank to accept a significant discount are not we expected to pick up most of the costs that in a normal transaction the seller would pay? For example past taxes, utilites, etc. That would also make the hud-1 form much easier to fill out. In my mind it would look better to the bank if we picked up all of the sellers cost except realtors fees.
I guess what I’m asking is that if I make an offer of 160k once the hud-1 is completed the net to the bank could be 150k. Should I not worry about that because the bank will tell me what they will or will not pay for?
typically the bank will not want to pay anything if the get away with it.
The one I am closing next week Stevie showed me how to do the hud and they accepted it, we got them to pay 1,200 closing and they paid 9,000 for back taxes.
happy investing
Thersa