Advice for the Day- When you are closing on the purchase or the sale of a property CHECK YOUR HUD1 Carefully!!! I have bought and sold hundreds of homes and I can only think of a couple of closings where there weren’t mistakes on the HUD1.
Make sure you check your payoff if you are paying off a mortgage, check the per diem amounts, check any pro-rations (they were wrong on the last property I closed on just a couple of weeks ago) Double check that items to be paid outside of closing aren’t on the HUD1.
I also recently received a payoff on a private mortgage I had funded and we were overpaid by about 700.00. (Again per diem was calculated incorrectly) When I called the investor I loaned the money to he said he was so focused on that bottom line number he didn’t even check. Folks Don’t leave money you are entitled to on the closing table or in someone else’s pocket!!
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