Real Estate Short Sale Forms - Foreclosure Investing
Because of the huge number of requests for our forms, we have decided to take the time and create some "interactive" foreclosure forms to help you through this whole buying process. We have developed some forms that will make your investing experience easier and save you tons of time. All these forms are availible on the CD when you order "Unlock the Hidden Wealth in Pre-Foreclosures". Therefore, for those of you that need to modify the forms we have created some in microsoft word or excel, so now you have the ability to change or modify them to comply with your states laws. If you had a real estate attorney draw these up for you, it would cost thousands of dollars. Trust me. I know. You will get all these forms for only $30 which will cover the time spent creating them. You will be able to use them as often as you need and modify them as you like. Here is what you get.
Form 1 - Property Evaluation Sheet ($199)
This evaluation sheet is priceless. There will be times when you walk through a house and wonder what the repairs will cost. We have put together an evaluation sheet that will give you the national average of what it would cost to repair a home. All you need to do is plug in the numbers and it will spit out an estimate of what it would cost to repair that home. You will be able to determine if the hosue will even be profitable for you. You type in the value of the home in repaired condition, it subtracts all the expenses and you will know roughly how much money you will make on this deal. You will be able to use this evaluation sheet as many times over as you need.
Form 2 - HUD 1 sheet ($199)
For most people, the HUD 1 seems to be the one that no one can understand, or they are not sure what it does. It is simply a "net sheet" showing the lender how much money they will be receiving upon closing. Most people have title companies fill them out because they don't know how, which you are entitled to however, it costs anywhere from $100 to $200 each time depending on who you have do it. So instead, we have provided a HUD 1 and all you have to do is fill in the blanks and it will compute all the numbers for you. This will save you hundreds of dollars over the years especially when you start to do 4 or 5 of these a month. Definately worth the investment.
Form 3 - Purchase and Sales Agreement
The purchase and sales agreement is one that you need for all your foreclosure deals. It is specifically designed for the purpose of purchasing foreclosures. You will be shown step-by-step how to fill these out along with the contingencies.
Form 4 - Warranty Deed
This is the form that transfers ownership of the property. You will need this when you get the deed from the homeowner.
Form 5 - Agreement Letter (PYA)
This is a letter of agreement and protects yourself as the buyer. This agreement basically states that the homeowners no longer have any interest in the property and they are not holding you liable for anything.
Form 6 - Authorization to Release Information
This form gives you the authorization to get information reguarding the loans on the property.
Form 7 - Escrow Letter
This form allows you to apply any left over funds in escrow and apply it to the mortgage.
Form 8 - Real Estate Disclosure Letter
This form discloses to the homeowner some things that could happen to them because of a payoff.
Form 9 - Land Trust
This form allows you to set up a Land Trust. You may need to modify this to comply with your states laws.
Form 10 and Form 11 - Schedule A and C
You may need these when filling out a Land Trust Agreement.
Form 12 - Beneficial Interest
This form assigns beneficial interest over to you.