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This document serves as an addendum to the Exclusive Right to Sell Listing Agreement, outlining the terms and conditions related to a Short Sale, defining the roles and responsibilities of the Seller

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How to fill out short sale addendum to

How to fill out SHORT SALE ADDENDUM TO EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT

01

Begin by obtaining the SHORT SALE ADDENDUM to the EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT form.

02

Fill in the property address in the designated section of the form.

03

Specify the seller's name and contact information accurately.

04

Clearly outline the terms and conditions related to the short sale process.

05

Indicate the lender's requirements and any other necessary disclosures.

06

Ensure to include any contingencies related to the short sale approval.

07

Review the entire form for any additional clauses or amendments that may be required.

08

Have all parties involved, including the seller and the listing agent, sign the addendum.

09

Make copies of the signed document for all parties for their records.

Who needs SHORT SALE ADDENDUM TO EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT?

01

Sellers who are unable to pay off their mortgage and wish to sell their property for less than the amount owed.

02

Real estate agents representing sellers in short sale transactions.

03

Lenders interested in formal agreements regarding short sales to mitigate losses.

04

Buyers looking to purchase properties through a short sale process.

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What is SHORT SALE ADDENDUM TO EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT?

The SHORT SALE ADDENDUM TO EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT is a document that outlines additional terms and conditions when a property is sold as a short sale, which occurs when the sale price is less than the amount owed on the mortgage.

Who is required to file SHORT SALE ADDENDUM TO EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT?

The seller of the property, along with their real estate agent, is required to file the SHORT SALE ADDENDUM TO EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT to formalize the short sale process.

How to fill out SHORT SALE ADDENDUM TO EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT?

To fill out the SHORT SALE ADDENDUM, the seller and their agent need to provide information such as property details, lender information, the reason for the short sale, and any additional terms agreed upon by all parties involved in the transaction.

What is the purpose of SHORT SALE ADDENDUM TO EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT?

The purpose of the SHORT SALE ADDENDUM is to establish a clear framework for selling a property under short sale conditions, ensuring all parties understand their rights, responsibilities, and the process involved.

What information must be reported on SHORT SALE ADDENDUM TO EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT?

The SHORT SALE ADDENDUM must report information such as the property address, details of the existing mortgage loans, the estimated sale price, proposed timelines, and any contingencies or conditions that must be met for the short sale to proceed.

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