Get the free SHORT SALE DISCLOSURE - Financial Advisors International

SHORT SALE DISCLOSURE BROKERAGE LISTING AGENT Property Address: Seller: Buyer: This disclosure will serve as an independent agreement and relates to contact executed by the buyer and seller named

How to fill out short sale disclosure

How to fill out short sale disclosure:

1. Start by reading through the short sale disclosure form carefully. Familiarize yourself with the information it requires and any specific instructions provided.
2. Gather all the necessary documents and information before starting to fill out the form. This may include details about the property, the borrower's financial situation, and any other relevant documentation.
3. Begin by providing basic information about the property being sold, such as the address, legal description, and any applicable homeowner association details.
4. Next, you will need to disclose the reason for the short sale. This could be due to financial hardship, divorce, job loss, or any other circumstances that have made it difficult for the borrower to meet their mortgage obligations.
5. The form will likely ask for details about the borrower's financial situation, including income, expenses, debts, assets, and any other relevant financial information. Be sure to fill in accurate and up-to-date information to ensure the disclosure is complete.
6. If there are multiple borrowers or parties involved in the short sale, ensure that all their information is accurately provided. This may include co-borrowers, guarantors, or any other individuals with a legal interest in the property.
7. Make sure to disclose any known defects or issues with the property. This can include structural problems, water damage, pests, or anything that could affect the value or use of the property.
8. Finally, review the completed disclosure form thoroughly before submitting it. Double-check for any missing information or errors that may need correction. Sign and date the form as instructed.

Who needs short sale disclosure:

1. Homeowners who are considering selling their property through a short sale. This may be due to financial hardship, an inability to keep up with mortgage payments, or other circumstances that make it necessary to sell the property for less than the outstanding mortgage balance.
2. Real estate agents or brokers involved in the short sale process. They may be required to provide or assist in completing the short sale disclosure form as part of their responsibilities to the homeowner and the transaction.
3. Lenders or mortgage servicers who are handling the short sale process. They need the short sale disclosure to assess the borrower's financial situation and evaluate whether a short sale is an appropriate solution.
4. Potential buyers or investors who are interested in purchasing a property through a short sale. They may request or review the short sale disclosure to understand the property's condition, any known issues, and the seller's financial situation.

For pdfFiller’s FAQs

What is short sale disclosure?

Short sale disclosure is a form or document that outlines a real estate transaction in which the seller sells the property for less than the amount owed on the mortgage.

Who is required to file short sale disclosure?

The seller of the property is required to file short sale disclosure.

How to fill out short sale disclosure?

Short sale disclosure can typically be filled out by providing details about the property, the seller, the buyer, the mortgage holder, and the terms of the sale.

What is the purpose of short sale disclosure?

The purpose of short sale disclosure is to provide transparency and information about a real estate transaction involving a short sale.

What information must be reported on short sale disclosure?

Information such as the names and contact information of the parties involved, details about the property, the terms of the sale, and any potential risks or requirements must be reported on short sale disclosure.

How can I edit short sale disclosure from Google Drive?

By combining pdfFiller with Google Docs, you can generate fillable forms directly in Google Drive. No need to leave Google Drive to make edits or sign documents, including short sale disclosure. Use pdfFiller's features in Google Drive to handle documents on any internet-connected device.

How do I edit short sale disclosure online?

pdfFiller not only allows you to edit the content of your files but fully rearrange them by changing the number and sequence of pages. Upload your short sale disclosure to the editor and make any required adjustments in a couple of clicks. The editor enables you to blackout, type, and erase text in PDFs, add images, sticky notes and text boxes, and much more.

How do I fill out short sale disclosure on an Android device?

Use the pdfFiller app for Android to finish your short sale disclosure. The application lets you do all the things you need to do with documents, like add, edit, and remove text, sign, annotate, and more. There is nothing else you need except your smartphone and an internet connection to do this.