Scribd Logo
Upload

Welcome to Scribd!

  • HUD-90051 (Variance For 3% Closing Costs Approved)

    Uploaded by

    kwillson
    268 views2 pages
    This document is a sales contract review for a pre-foreclosure short sale. It provides details of the property address, homeowner, date of contract, listing agent, offered price, appraised value, estimated net sale proceeds, and mortgagee review and approval/rejection of the contract. Any rejection requires a reason. Additional information includes the homeowner name, loan number, buyer name, approved net proceeds, percentage of appraised value, expiration date of approval, listing agent, approved fees to be paid from sale proceeds or seller incentives, and amount of funds approved from HUD for buyer closing costs.

    Original Description:

    Original Title

    HUD-90051 (Variance for 3% Closing Costs Approved)

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This document is a sales contract review for a pre-foreclosure short sale. It provides details of the property address, homeowner, date of contract, listing agent, offered price, appraised value, estimated net sale proceeds, and mortgagee review and approval/rejection of the contract. Any rejection requires a reason. Additional information includes the homeowner name, loan number, buyer name, approved net proceeds, percentage of appraised value, expiration date of approval, listing agent, approved fees to be paid from sale proceeds or seller incentives, and amount of funds approved from HUD for buyer closing costs.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    268 views2 pages

    HUD-90051 (Variance For 3% Closing Costs Approved)

    Uploaded by

    kwillson
    This document is a sales contract review for a pre-foreclosure short sale. It provides details of the property address, homeowner, date of contract, listing agent, offered price, appraised value, estimated net sale proceeds, and mortgagee review and approval/rejection of the contract. Any rejection requires a reason. Additional information includes the homeowner name, loan number, buyer name, approved net proceeds, percentage of appraised value, expiration date of approval, listing agent, approved fees to be paid from sale proceeds or seller incentives, and amount of funds approved from HUD for buyer closing costs.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 2

    Sales Contract Review

    Pre-foreclosure Sale Program


    U. S. Department of Housing
    and Urban Development
    Ollice ol Housing
    Federal Housing Commissioner
    OMB Approval No.25O2O4b4
    (exp. O7/81/2OO9)
    Public reporting burden lor this collection ol inlormation is estimated to average 9 minutes per response, including the time lor
    reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection ol
    inlormation. This inlormation is required to obtain benelits. HUD may not collect this inlormation, and you are not required to complete this lorm,
    unless it displays a currently valid OMB control number.
    Section 2O4 ol the National Housing Act authorizes the Secretary to pay an insurance claim that bridges the gap between the lair market
    value proceeds lrom the HUDapproved third party sale ol a property. The respondent s maybe lenders (mortgagee s), counselors and homeowners
    who are attempting to sell their properties prior to loreclosure. The Privacy Act ol 1974 pledges assurances ol conlidentiality to respondents. HUD
    generally discloses this data only in response to a Freedom ol Inlormation request.
    Mortgagee Contact Person: Phone Number: Account/Control Number: FHA Case Number:
    Homeowner Name(s):

    Property Address:
    Homeowner Name(s):
    Date ol Sales Contract: Date contract Received by Mortgagee: Sales Agent and Firm: Phone Number: Sales Commission & Rate
    Ollered By: Address:
    listing Price:
    $
    Price Ollered:
    $
    Appraised Value:
    $
    Value:
    $
    Fstimated Net Sales
    Proceeds:
    $
    Mortgagee (or HUD) Review of the Sales Contract
    The Sales Contract ollered by the individuals listed above is:
    Accepted
    Rejected (list reasons below)
    This Sales Contract is rejected lor the lollowing reasons(s):
    ________________________
    Mortgagee Signature and Date
    lorm HUD-90051 (Ob/2OO8)
    rel. Handbook 488O.1
    ol Appraised
    Date:
    88%
    Six Percent (6%)
    %
    Chris Thomas
    480-457-3088 184412405 461-4321265
    Cheryl Walker-Sheppard
    148 Spirit Mountain Lane Easley, SC 29642
    10/10/2011
    10/19/2011
    Kevin M. Lancaster -
    Willson
    (864) 485-9283 8,070.00 6
    Kendall Snipes
    142,500.00
    134,500.00 142,500.00
    125,400.00
    119,700.00
    Chris Thomas
    11/8/2011
    DocuSign Envelope ID: 1DA63E8B-DA0A-4681-BC6A-4E3F9E32F20C
    Nov-08-2011 | 17:15 PT
    2
    Sales Contract Review Additional Information
    Home Owner Name:
    Loan Number:
    Thanks & Best Regards,
    FHA Negotiator
    Please drop me an email if you have any questions,
    LOAN SERVICE SPECIALIST
    HUD has approved $ _____ for buyers closing cost credit.
    *** Please note, these funds cannot be used for any portion of the buyer's down payment, nor can it be used to
    pay for fees that HUD has deemed un-allowed. For example, third party negotiation fees, repairs or additional
    realtor costs. The final HUD that is submitted for approval must show both buyer and seller costs. If a fee is
    determined to be a non-allowed, you will be notified at that time, and final approval will be withheld until
    corrections have been made. ***
    Cheryl Walker-Sheppard
    184412405
    **** FHA SHORT SALE APPROVED SALES CONTRACT REVIEW****
    Purchase Price: 134,500
    Buyer Name: Kendall Snipes
    Net Proceeds: 119,700
    88% of Appraised Value: 125,400
    ATP Expiration: 12/28/2011
    Agent: Kevin Willson
    Approved fees to be paid from sales proceeds: CC 4035, S/I 594.40, Tax 900, Comm 8070, settle 400, Tax 151.80, Tax 358.80
    Fees to be paid from seller incentive: HOA 290
    4,035.00
    Chris Thomas
    DocuSign Envelope ID: 1DA63E8B-DA0A-4681-BC6A-4E3F9E32F20C
    Nov-08-2011 | 17:15 PT

    You might also like