Everyone else just wastes a lot of time and money to reach a settlement that nobody is happy with.

Rather the lender will be approving a settlement offer/payoff.I was not aware that the lender had done an interior BPO months ago when the borrower was attempting a deed-in-lieu.

Marlene, good thinking, the simple answer is yes.A sub-2, done as a wrap is an asset in the estate and the underlying mortgage is a liability, the contract will be passed in the estate settlement, The bank will be notified of the borrower's estate settlement.

Why don't you credit your escrows to the price less the balance plus accrued iterest to settlement.

In some states you are not allowed to pay an unlicensed party ANY kind of referral fee etc.Residential transactions are covered under RESPA (real estate procedures and settlement act).Everything must be on the HUD-1 in that case.What you really need to do is consult an attorney in the area you will be referring leads to figure out a legal way to get compensation for the lead.This can be set up various ways depending on the area.No legal advice.

Keep in mind that delays in settlement are often the sellers responsibility.

Absolutely agree with everything Bill Gulley wrote, too, especially the personal guarantee.You MUST have this loan recorded and on the settlement statement (HUD-1) when the purchase transaction initially closes.

Your settlement company (you have to pick one out that you like) OR your loan officer can give you a loan worksheet (loan company) or estimated HUD (settlement/ title company), which will give you a sense of what you will need to pay at closing (it includes all closing fees, transfer fees and such listed out).

Not only being at arms length but by definition of market value, that the value was paid in cash or its equivelant.Seller concessions such as paying settlement costs if common for the area are considered from the subjective analysis to arrive at market value if such do not exceed regulatory limitations.

The title company will create two settlement statements.