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Short Sale Addendum to Exclusive Right of Sale Listing Agreement FLORIDA ASSOCIATION OF REAL TORS A short sale generally occurs when the Sellers net sale proceeds after payment of customary closing
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How to fill out a short sale addendum:

01
Begin by carefully reviewing the terms and conditions of the short sale addendum. Understand its purpose and the specific requirements it entails.
02
Make sure to thoroughly read and understand the instructions provided in the addendum. This will help you complete it accurately and avoid any mistakes.
03
Fill in the necessary contact information, including the names of all parties involved in the short sale transaction. Provide accurate phone numbers, email addresses, and mailing addresses for effective communication.
04
Identify the property address and include it in the designated section of the addendum. Double-check the accuracy of the address to prevent any complications later on.
05
Consider any additional terms or conditions that may need to be included in the addendum. This could include specific instructions regarding repairs, contingencies, or concessions.
06
Consult with your real estate agent or attorney to ensure that all appropriate disclosures and documentation are included in the addendum. This may include any relevant financial information, such as outstanding liens or mortgages.
07
Carefully review all the details and entries made in the addendum before signing it. Take note of any revisions or changes that may be required, and make sure everything is accurate and complete.
08
Once you are confident that all the information is accurate, sign the addendum along with all other parties involved in the short sale transaction. This ensures that all parties acknowledge and agree to the terms outlined in the addendum.

Who needs a short sale addendum:

01
Homeowners looking to sell their property through a short sale process may need a short sale addendum. This document is typically required by the lender as part of their approval process.
02
Buyers who are interested in purchasing a property through a short sale may also need a short sale addendum. This ensures that all parties involved are aware of and agree to the specific terms and conditions associated with the short sale transaction.
03
Real estate agents and attorneys involved in the short sale process may also require a short sale addendum. This helps to legally protect their clients' interests and ensure that all necessary disclosures and documentation are in place.
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Short sale addendum is typically added to a real estate purchase agreement.
The seller and buyer involved in a short sale transaction are required to file the short sale addendum.
The short sale addendum should be filled out by providing all relevant details about the short sale transaction, including the purchase price, terms, and conditions.
The purpose of the short sale addendum is to outline specific terms and conditions related to the short sale transaction that are not covered in the standard purchase agreement.
The short sale addendum must include information such as the purchase price, any seller concessions, and any special terms or conditions related to the short sale.
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