Remind Me To NEVER Attempt To Wholesale A Probate Property Again...
The seller and I came to an agreement on price, I sent her the contract, but the probate attorney said that I need to send a HUD. I thought the HUD was the paperwork at closing with all of the transaction info on it? Is this normal? This has been a drawn out process dealing with the probate process.
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Jon Holdman
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Jon Holdman#3 Real Estate Deal Analysis & Advice Contributor
#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
Sounds like the probate attorney wants to see the preliminary HUD-1 settlement statement. That would show all the credits and debits and the bottom line that the seller is going to get. While the final version of this is created right at closing, its not at all unusual for preliminary versions to be created before closing. Assuming you're dealing with a title company, they can create these, provided they have the necessary information.