Dear
This letter confirms our acceptance of the short payoff on the above-referenced property. We agree to accept the proceeds generated by the $60.020.00 ‘as is condition’ purchase by as full and final satisfaction on the first mortgage indebtedness or the above referenced property. This agreement is subject to the following,
Short Sale Terms
1. Net proceeds to be no less than 48,086.90
2. Any reduction in the approved closing costs must be added to the net proceeds.
3. SELLER TO RECEIVE 3,000.00.
4. The following closing costs have been approved and should not exceed the given amount,
Cash to Homeowner $3,000.00 Payable to:
Amount to 2nd Lien $3,000.00 Payable to:
County Taxes $729.00
Settlement Fee $600.00
Title Abstract Search $80.00
Title Insurance $330.00
Recording Fee $19.10
State Tax Stamps $420.00
Listing Broker Commission $1,800.00
Selling Broker Commission $1.800.00
Municipal Lien Search $115.00
S. This transaction may not involve a third party who receives a deed prior to this closing or after this closing end before recording oft deed to the purchaser.
6. HUD I Settlement Statement Must be faxed 48 hours before closing for approval. Please fax to You can, also have your authorized agent upload it directly with his or her access to
7. We will prepare a release of lien and send to the title company for recording.
8. Net proceeds must be received on or before September 27, 2012
9. All escrow surplus and credits MUST be added to the net proceeds.
