What Makes Complete Package
Close as fast as 21 days with a complete package.
What is a complete package?
The following documents are required by the Bank to process and underwrite receivables. In the event that some documents are not available, the Bank may choose to perform additional underwriting in lieu of the missing documentation. You may choose to gather the majority of this information yourself and submit the completed package to the Bank, or simply allow Grand Bank to correspond directly with the seller in obtaining the required documents, freeing you to concentrate on the next transaction while still receiving payment of your fee.
- Purchase Account Information Sheet
- Copy of Signed Option / Purchase Agreement between broker and seller
- Information regarding debtor (place of employment, income, etc.)
- Copy of Note
- Copy of Mortgage / Deed of Trust / Contract for Deed
- Copy of Title Policy
- Copy of Closing Statement
- Copy of Hazard Insurance Policy
- Copy of Verifiable Pay Record
- Complete address and legal description of property
- Debtors’ social security numbers / Tax I.D. numbers
- Pictures of collateral
Other documents may be available and will enhance Grand Bank’s ability to expeditiously underwrite the file:
- Most recent appraisal
- Map and/or plat of property
- Survey (if applicable)
- Debtor's Financial Statement and Tax Returns, and/or recent pay stubs
- Real Estate or Earnest Money Contract
- Warranty Deed
- Copy of Superior Lien (if second)
- Any other documents or information pertinent to the transaction