You can use the excel upload that you had done for me and just add a sheet for the HUD-1. The HUD upload below has all the info for you just have to transfer it to an excel sheet. And follow the directions below. Hope this isn’t to confusing for you! I also uploaded a screenshot of how he did his on excel.
Basically, about 90% of the difficult parts have been done for you in PDF form and the Part L with deleted row version of Excel. We are using the J and K part PDF only for an example. Do not type on it., Type on the student revised Excel HUD-1 upload below and make it a complete HUD-1.
The goal is to transfer it into an Excel Workbook and make sure you enter the subtotals and totals correctly. Instead of starting from scratch and trying to draft a closing statement free hand, you are learning by typing one and by proofreading and verifying totals. This is simple, but does track what you would do in a law office. I actually went to a current law office and talked to one of the lawyers to “talk real estate” and make sure that this will advance you as if you were learning on the job and it does.
You will have to avoid being distracted by the row numbers in the Excel, such as row 36, and use the actual line numbers from the official HUD -1 form, such as line 200. The officialHud-1 does not use letters for columns, so I refer to columns B and C that are in Excel.
On the first page of your Excel, 301 C, which is C60 on part J, it should be the same as line C120, not C200 as I showed in the box. C200 is a blank cell. Don’t use it. Use the one right above it is C120.
Ken Sell assisted in coming up with the formula to transfer a total from the second sheet L to the first sheet J or K.This helps you take something from this course that will work in practical legal work, and expands your skills. So what you did before for me use that and then make sure to add another sheet. Which would be named
You need to make sure you did not change the name of the second sheet. I named it L of Hud-1 and the exact typing matters. If you changed it, change it back, please.
To make C 103 of part J the same as B 1400 on L, do this.
Make sure you used the correct formula so B 1400 uses the Excel row numbers and not the official Hud numbers. So =sum(B6:B59) will give you the sum of all numbers in column B. Type that formula into B60. This cell is officially the borrower total of costs on line 1400 in Hud part L.
Then, go to C103 and type this formula, using single quotes where shown and an exclamation mark where shown. Note that official form C103 is C25 in Excel. Go to C25 and type the following formula. Type this, starting with the equal sign:
=’L of Hud-1′!B60
The formula tells Excel which sheet to go to, which we have called L of Hud-1 and it uses single quotes for it. Then, the exclamation point tells Excel to duplicate the next cell reference, which is B 60. (We are just duplicating a number from one cell to another, not doing a sum. That is why we did not type sum.)
I made an error in using line 1102, Cell labeling it as homeowner’s insurance instead of Settlement or Closing fee, but the math does not change. Use $500. You do not need to correct the label for class purposes, but I am letting you know so you can get it right as a “take away” form.