Short Sale Training » Short Sale Contact Numbers » Wells Fargo Short Sale Contact » Wells Fargo Short Sale Approval Letter

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Old 10-15-2009, 10:17 AM
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Default Wells Fargo Short Sale Approval Letter

This is an email that was sent on 10/15/09 There is an attachment with closing instructions


Please read ALL of these instructions carefully:

1) PLEASE PROVIDE THE NAME OF THE CLOSING OFFICE, A CONTACT, AND AN EMAIL ADDRESS FOR THAT CONTACT.

2) PLEASE RETURN PAGE 3 OF THIS LETTER WITH THE COMPLETED RECORDING INFORMATION FOR THE PRIOR MORTGAGE AT LEAST 48 HOURS PRIOR TO CLOSING.

3) PLEASE NOTIFY ME OF YOUR INTENDED CLOSING DATE

4) I MUST RECEIVE A FINAL HUD 48 HOURS PRIOR TO CLOSE TO REVIEW AND APPROVE FOR SETTLEMENT

5) THE SETTLEMENT FEES ON THIS APPROVAL LETTER ARE CAPS OR CEILINGS. ANY SETTLEMENT EXPENSES NOT REFERENCED ON THIS LETTER OR EXCEEDING THE CAP OR CEILING MUST BE PAID BY THE BUYERS, SELLERS, OR AGENTS. IF THIS OCCURS, A CASH CONTRIBUTION FOR THAT ITEM MUST BE REFERENCED ON THE HUD FOR THE SPECIFIC ITEM, IF THAT ITEM APPEARS ON THE FINAL HUD.

6) ALL FUNDS MUST BE CERTIFIED. TITLE COMPANY CHECKS ARE NOT ACCEPTABLE. ANY FUNDS THAT ARE RECEIVED BY WELLS FARGO THAT ARE DRAWN OFF OF A TITLE COMPANY ACCOUNT AND ARE NOT CERTIFIED WILL BE RETURNED IMMEDIATELY. IF THE TITLE COMPANY REFUSES TO PROVIDE CERTIFIED FUNDS, THE TRANSACTION MUST BE MOVED TO A DIFFERENT TITLE COMPANY. THERE ARE NO EXCEPTIONS TO THIS POLICY.

7) IF A PROMISSORY NOTE HAS BEEN REQUESTED FOR THIS TRANSACTION, I MUST RECEIVE A COPY OF THE FULLY EXECUTED NOTE. THE ORIGINAL NOTE MUST BE SENT TO THE REQUESTOR.

8) IF ANY DOCUMENTS WERE SIGNED USING A POA, A COPY OF THAT POA MUST BE INCLUDED WITH THE HUD AND CERTIFIED CHECK.

9) REMIT CERTIFIED FUNDS, EXECUTED HUD(S), AND ANY OTHER NECESSARY DOCS SUCH AS NOTES OR POAs TO THE ADDRESS REFERENCED ON PAGE 2 OF THIS APPROVAL LETTER. WE DO NOT ACCEPT WIRES.

10) FAILURE TO COMPLY WITH ANY OF THE ABOVE WILL RESULT IN THE TRANSACTION BEING CANCELLED OR RESCINDED. AGAIN, ALL FUNDS MUST BE CERTIFIED. ANY FUNDS THAT WE RECEIVE THAT ARE NOT CERTIFIED WILL BE RETURNED AND THE OFFER WILL BE NULL AND VOID.

11) IF THERE IS A 2 ND LIEN/MORTGAGE ON THIS PROPERTY, AN APPROVAL OF THIS SHORT SALE MUST BE OBTAINED FROM THE LIEN HOLDER. OUR APPROVAL IS CONTINGENT UPON 2ND LIEN HOLDER APPROVAL.

Please DO NOT hesitate to contact me with any questions or concerns. Thank you and I look forward to your closing!
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