Title Agent Essential To The Short Sale
With a week committed to Title procedure and padding the HUD, today’s focal point is on working with a high-quality Title Agent. If you are wondering what you pad in HUD, this is where a trusted Title agent comes into the picture. Understand that the reason you need to have this kind of Title agent is because they need to realize that sometimes you may need to pad a HUD a little more than other real estate transactions because you are dealing with a distinctive situation called a short sale.
Much like the differences in real estate specialists, there are differences with title agents that conduct short sales. Remember that if you are working with an escrow representative that has been in the business for 30 years and has always done things in one exact way, you will possibly get a little resistance. You may want to ponder 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 postpone a sale date or close a buyer before they walk away. Lenders occasionally catch you off guard and you require a HUD in a few hours. Ensure that you have a title agent that can deal with these demands.
Kevin and Fred have a typical process that allows them to get their HUD back in four business hours or less. Their escrow officer knows that when a HUD needs to be revised there is a deal coming up very soon. Also, the escrow officers are always careful to review the approval letters and keep the client informed and educated throughout the development. They also present the final HUD to the lender for final approval. You must be on the same side working to the same objective with your escrow agent.
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