Hi Josh

All I can say is WOW!!! That’s alot of goood information on this video you guy’s (SREC) give away for FREE!!! and there are other company that would be charging for this information, Thanks, I know that it will help my business. I will soon be a member of your school… Thanks again

Hi Josh, I could really use your help if you are willing to give a stranger 10-15 min. I’ve been watching your short sale videos just because it is something I would like to do one day but have happened to fall into a short sale situation. My husband and I where purchasing a home and moved into the home with a rental contract until we where suppose to close. Well, I guess the sellers where not making payments and the home went into short sale the same day we got our inspections back (with some major problems with the home) and the day before we where supposed to close. We offered fair market value on the home but the inspections came back with a semi serious foundation problem ($12,000), an electrical problem ($2,000), a roof problem ($500), and we learned after moving into the home that the sellers had been stripping the home and left a lot of damage that we did not notice when we first saw the home. Upwards of $20,000 total. Anyway, what I would really like to know is if there is any chance that the bank will give credits for the probs, fix them, or lower the sale price? We asked for the bank to pay our closing costs (only $5,000) and they said it was against their policy. And we have just been sitting now for over a week waiting to hear if the bank is going to work with us to make this deal work for us. Can you give me any advice? We do really want this home but we can’t afford to make a huge financial mistake either. Thanks, Janene Cook (412)320-6255 my cel # anytime, day or night.

Josh, thanks so much for another great lesson!
Question: can real estate commission be different for agets on the HUD, e.g. if the bank allows 5% split, can we give 2% to one agent and 3% to the other, or do they have t be equal?
Thanks!
Julia

Julia

The commission can be different 1 & 4, 2 &3 etc

thanks!

Josh,

Yea, great presentation on the HUD!!! It is VERY helpful…..
Question: Concerning Property Taxes; on the HUD the current property taxes (non delinquent) are put on line 211 as well 511. Then you have delinquent taxes put on page 2 in the 1300’s.
Taxes current year and prorated are put on 211 so that we may reduce the amount needed to pay off the lender in the first transaction. The word is to not put past due taxes here. Why not? Wouldn’t we get credit for all past due and currently due taxes at closing anyway?
Would it have anything to do with if the lender had brought the deliquent taxes current by this time? In otherwords on one deal I am working on, the lender had paid all taxes current (this is during my negotiations with them). So if they have paid them, then maybe we could include this past due amount also on line 211? as not having to go to the lender, thus paying even less to the A to B cash investor?…..

Josh,

Yea, great presentation on the HUD!! It is VERY helpful…..
Question: Concerning Property Taxes; on the HUD the current property taxes (non delinquent) are put on line 211 as well 511. Then you have delinquent taxes put on page 2 in the 1300’s.
Taxes current year and prorated are put on 211 so that we may reduce the amount needed to pay off the lender in the first transaction. The word is to not put past due taxes here. Why not? Wouldn’t we get credit for all past due and currently due taxes at closing anyway?
Would it have anything to do with if the lender had brought the deliquent taxes current by this time? In otherwords on one deal I am working on, the lender had paid all taxes current (this is during my negotiations with them). So if they have paid them, then maybe we could include this past due amount also on line 211? as not having to go to the lender, thus paying even less to the A to B cash investor?…..