Steps to a Successful B-C Closing :
1 1 Steps to a Successful B-C Closing Buyer completes FREE Online Application
www.wfhm.com/tami-richter
Buyer emails/faxes all documents to:
tami.a.richter@wellsfargo.com or fax: 877-658-4583
~Last 2 Year W-2’s
~Last 30 Day Pay Stubs
~Last 2 Months Checking/Savings Statements (ALL PAGES)
~Last 2 Year Tax Returns (if self-employed)
~Clear Photo Copy of Drivers License & Social Security Card
Pre-Approval Sent to all Parties within 48 hours
B (investor) must submit HUD-1 & new Chain of Title upon taking Ownership
tami.a.richter@wellsfargo.com
B Markets Property via MLS, Emails Purchase Contract & Title Company Info tami.a.richter@wellsfargo.com
Full Loan is submitted to our NDS Flip Department & Appraisal Ordered
Average Closing after 1st appraisal received 12-14 days
Steps to a Successful B-C Closing :
2 2 Steps to a Successful B-C Closing Important Guidelines
Primary & 2nd Home ONLY – NO Investment Properties
NO back-to-back closings
LTV can NOT exceed 80%
Down Payment MAY come from a Gift
NO Gift of Equity allowed
2 appraisals required if Purchase Price Increase is over 15%
No more than ONE title transfer in 12 month chain of title
Property MUST be exposed to open market via MLS
Buyer & Seller may NOT be represented by the same real estate agent or broker