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 smithsara302
Joined: 12 Jun 2009
Posts: 116
-0.16 Dollars($)
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 Posted: Fri Sep 11, 2009 10:25 am Post subject: What is a short sale net sheet? |
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| What is a short sale net sheet? |
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archie14p
Joined: 16 Aug 2009
Posts: 65
0.06 Dollars($)
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| Posted: Mon Sep 14, 2009 1:49 am Post subject: |
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| Short sale net sheet is a documents needed by the lender from the borrower before they agree on a short sale. The net sheet will show the what price the lender is expectng for the perticular property |
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adrianlee1971
Joined: 13 Sep 2009
Posts: 53
-0.17 Dollars($)
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| Posted: Tue Sep 15, 2009 6:16 am Post subject: |
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| A short sale net sheet is one of the documents needed by the lender from the borrower before they agree on a short sale. |
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ross090909
Joined: 04 Sep 2009
Posts: 82
0.00 Dollars($)
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| Posted: Tue Sep 15, 2009 10:02 am Post subject: |
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A short sale net sheet is one of the documents needed by the lender from the borrower before they agree on a short sale.
Short sell net sheet will include following things-
1) Price for the property the seller expects.
2) Costs of the sale.
3) Late fees.
4) Real estate agent commissions.
Closing attorney will prepare the short sale net sheet.
Other documents required by the lender for a short sale are:
1) A hardship letter explaining about finantial troubles for borrowers.
2) Bank statements, income and assets should be disclosed to the lender in good faith. The lender will be interested in any other real estate you might have, as well as in any savings accounts.Present finantial situation description.
3) House appraisal.
4) Potential purchase agreement showing how much you were offered by a potential buyer.
The lender may ask for account activities. They will also want to know if there is any undisclosed cash offered by the buyer to the seller. The lender is likely to negotiate certain terms on their own and refuse paying for some items. |
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pettybob1
Joined: 07 Sep 2009
Posts: 37
0.24 Dollars($)
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| Posted: Tue Sep 15, 2009 8:07 pm Post subject: |
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| The short sale net sheet will show what price for the property the seller expects, including costs of the sale, late fees and real estate agent commissions. The short sale net sheet will be prepared by your closing attorney. |
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