REAL ESTATE EVALUATION WORKSHEET - WSHFC
REAL ESTATE EVALUATION WORKSHEET
Property Name: Applicant/Resident Name:
Unit:
Current Minus Minus Minus Minus Minus
value of real estate mortgage owing second mortgage/deed of trust 10% selling costs (based on value) other (explain) other (explain)
Equals amount to be valued as an asset
=
If real estate is rented, you will need to obtain a copy of the resident's signed federal tax return complete with all schedules as well as a copy of the rental agreement.
If real estate was sold on contract, you will need to obtain a copy of the contract and determine whether there is an underlying mortgage and if so, the interest rate. This information will determine which method you will use for figuring income. The easiest method is to obtain a copy of their signed federal tax return with all schedules.
If real estate is currently listed for sale, obtain a copy of the listing agreement. If the sale is pending, obtain a copy of the RESPA statement, which will reflect the net proceeds. If the transaction has closed recently, request a HUD ?1 Settlement Statement.
managers/forms-RC.htm Real Estate Evaluation Worksheet Rev. January 2014 tonbar
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