I am investor in northern Virginia.
I am looking for HUD-1 generator.
If anyone knows it, please share the info. with me.
Thank you.
You could use your title company to generate the HUD or buy one
As an investor, why would you need to generate a HUD-1? The title companies do this after settlement.
Because on a Short Sale the lender requires one with all packages… Its a pain to keep bugging an escrow officer when negotiations change the costs.
As an investor, I have to work with the numbers because that seems to be the ONLY way that I will understand whether it’s a deal I want to be in :beer, or not :flush.
Personally, I think understanding the two HUD-1’s is the whole crux of the matter, but then I’m a numbers oriented person. I fine tune the wholesale HUD against the retail HUD.
This makes me recognize there will be lots of costs when the property is sold to my “C” buyer, which makes it absolutely clear that if the “A-B” transaction doesn’t come together at a price that makes sense, then this deal is going to end up as B-win, B-win, B-win, I-lose – Borrower wins, Bank wins, Buyer wins, and I, the Investor, lose :banghead.
The investor, who worked the hardest through this whole transaction and was the procuring cause for the deal, putting it together from start to finish, should be compensated, and well compensated, for figuring out the solution; enduring the stress, making the effort, and really being the entreprenuerial brains behind the whole process.
If an attorney pulls down 33% on a Worker’s Comp settlement and say, makes $1,000,000+ from the award, why shouldn’t a SS investor make good money? The two HUD’s, IMO, are you writing your paycheck in advance, which tells you how much time you can afford to invest in the deal.
And, of course, the SS package needs to include a HUD along with the Offer to Buy, so it’s just natural that I’d produce my own HUD statement. By doing so, this helps me to be “in tune” with the deal. Haven’t done that many, however, so maybe I’m getting too caught up in details? That’s just how I work it at present and your mileage may vary.
That’s why you need to produce your own HUD’s. HTH’s.