With a week devoted to Title procedure and padding the HUD, today’s attention is on dealing with a first-rate Title Agent. If you are wondering what you pad in HUD, this is where a trusted Title agent comes into the picture. Recognize that the reason you need to have this sort of Title agent is because they have to comprehend that occasionally you may need to pad a HUD a little more than other real estate transactions because you are dealing with a unique state of affairs referred to as a short sale.
A lot like the differences in real estate agents, there are differences with title agents that handle short sales. Remember that if you are working with an escrow representative that has been in the trade for 30 years and has always done things in one exact way, you will most likely get a little resistance. You may want to consider the mindset of the person that you are dealing with that won’t have to work outside of their comfort zone.
Other vital factors include the Title agents work ethic and urgency level. There will be times that you require a HUD ASAP to push back a sale date or close a buyer before they walk away. Lenders occasionally catch you off guard and you want a HUD in a couple hours. Guarantee that you have a title agent that can handle these demands.
Kevin and Fred have a typical process that permits them to get their HUD back in four business hours or less. Their escrow officer understands that when a HUD needs to be revised there is a transaction coming up very soon. Also, the escrow officers are constantly careful to evaluate the approval letters and keep the client informed and educated all through the procedure. They also present the final HUD to the lender for final approval. You must be on the same side working toward the same goal with your escrow agent.
Get powered up by Kevin and Fred at Short Sale Power Hour by the Short Sale Specialists of Arizona