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PB_WD40, Home Owner in Miami, FL

Closing Procedures for cash condo deal (short-sale)

Asked by PB_WD40, Miami, FL Thu Aug 16, 2012

Hi all: So we are finally closing on a cash condo deal (after the loan fell through). We have the Hud-1 statement and will do the the final inspection tomorrow. The title agent has sent me a number of forms to sign including:

1. Hud-1
2. Short Sale Compliance Agreement
3. Release of claims from 2nd lien holder
4. Short Sale Affidavit

There are some things I want to make sure of regarding the purchase:
1. What documents should I expect from the title agent to ensure the deal is really "closed" and that I own the property free and clear? We requested estoppel letters as part of the process. Should we ask for copies of these? I've read that a Condominium 6D Certificate should be supplied?

2. The deed: Is this a document I should expect? Or a registration process with the country/city to record that I'm the owner of the property?

3. Is there anything else I'm missing?

Thanks again for everyone's advice, this board's been a real big help throughout the whole process.

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2
BEST ANSWER
Good Afternoon,

Congratulations on your closing. There are several documents that a title company/closing agent would need to obtain in order to ensure themselves that they are able to provide you with clear title to the property free of any liens on the property. Given what may appear you have gone through, I would strongly suggest that you contact a local real estate attorney to review the title commitment and other documentation to ensure that all items have been addressed. This will of course provide you with the much needed piece of mind that you will need. Good luck with your closing.

Lila Lopez
RE/MAX Advance Realty
homesbylila@yahoo.com
305-772-2521
0 votes Thank Flag Link Fri Aug 17, 2012
BEST ANSWER
Nereida Figueroa, Agent, Miami, FL Title companies up to date are more accuare due to the many changes in their regulation thru the government. Let them to give documentation needed for closing. If you need more details like to check every document in that case you need a Real Estate Lawyer
0 votes Thank Flag Link Fri Aug 17, 2012
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