Home Buying in 30344>Question Details

Eric H., Home Buyer in Atlanta, GA

Who prepares a preliminary HUD-1?

Asked by Eric H., Atlanta, GA Mon Nov 24, 2008

Why would a bank want one of these with an offer? Who prepares a preliminary one?

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The preliminary HUD-1 can be prepared by your realtor, your morgage lender, or in some cases, the title company or attorney handling the closing. It is an estimate of expenses so that you will be prepared for closing. The Final HUD-1 Settlement Statement will have the final numbers on it. The bank will expect these documents as they evaluate the appraised value of the property and the buyers' ability to meet the financial obligations.
Web Reference: http://www.MariaSellsKC.com
0 votes Thank Flag Link Mon Nov 24, 2008
Guys thank you for your input! I was able to purchase a home back in May of 2009 after many let-downs and sacrifices. I'm looking to buy a multi-family unit presently....more questions to come! LoL! Thanks again for your help guys!
0 votes Thank Flag Link Tue Dec 6, 2011
on a short-sale, the listing agent often prepares the preliminary HUD (i do on mine), but a lawyer can do it as well
0 votes Thank Flag Link Tue Dec 6, 2011
Eric -
It appears this may be a short sale or a bank owned property, they want to know what the bottom line is to them, anyone of the persons noted earlier can prepare a HUD.
0 votes Thank Flag Link Mon Nov 24, 2008
Hi Eric,

The closing attorney does this based on all the info from all the parties.
Web Reference: http://www.torilawson.com
0 votes Thank Flag Link Mon Nov 24, 2008
The closing attorney does this based on the information from the agents and the leander.
0 votes Thank Flag Link Mon Nov 24, 2008
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