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SHORT SALE/FORECLOSURE ADDENDUM TO EXCLUSIVE RIGHT OF SALE LISTING AGREEMENT Copyrighted by and Suggested For Use by the Subscribers of the Northeast Florida Multiple Listing Service, Inc. (NEWELS)
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How to fill out short salepre-foreclosure addendum to
How to fill out a short sale pre-foreclosure addendum:
01
Gather the necessary information: Before beginning to fill out the addendum, make sure you have all the relevant information at hand. This may include the property address, the names of the sellers and buyers, as well as any specific terms and conditions related to the short sale.
02
Start by entering the basic information: Begin filling out the addendum by entering the essential information, such as the names of the parties involved and the date. Double-check for accuracy to avoid any mistakes.
03
Describe the property: Provide a clear and detailed description of the property being sold. Include relevant details that would help identify the property, such as the address, lot number, or any special features.
04
Specify the terms and conditions of the short sale: In this section, outline the specific terms and conditions that are being agreed upon for the short sale. This may include the purchase price, any contingencies, deadlines, or special agreements made between the buyer and seller.
05
Disclose any known issues or defects: If there are any known defects or issues with the property, it is important to disclose them in this section. This ensures transparency between the parties involved and protects both the buyer and seller.
06
Provide space for signatures: Allocate ample space for the signature of the seller, buyer, and any other relevant parties involved in the transaction. Signatures indicate agreement and understanding of the terms outlined in the addendum.
Who needs a short sale pre-foreclosure addendum:
01
Homeowners facing foreclosure: If you are a homeowner who is struggling to make mortgage payments and are exploring the option of a short sale, you may need a short sale pre-foreclosure addendum. This document helps clarify the terms and conditions of the short sale process and protects your interests during the transaction.
02
Buyers interested in purchasing a short sale property: If you are considering purchasing a property through a short sale, it is crucial to have a short sale pre-foreclosure addendum. This document outlines the terms and conditions agreed upon between you and the seller, ensuring a smooth and transparent transaction.
03
Real estate agents and attorneys: Real estate agents and attorneys involved in short sale transactions often require a short sale pre-foreclosure addendum to formalize the agreement between the parties involved. This document acts as a legally binding contract that protects the interests of all parties and helps facilitate the transaction.
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What is short sale pre-foreclosure addendum to?
It is an additional document added to the sales contract when a property is being sold in a short sale or pre-foreclosure situation.
Who is required to file short sale pre-foreclosure addendum to?
The seller and buyer are typically required to file the short sale pre-foreclosure addendum.
How to fill out short sale pre-foreclosure addendum to?
The addendum should be filled out accurately with all relevant information about the short sale or pre-foreclosure transaction.
What is the purpose of short sale pre-foreclosure addendum to?
The purpose is to disclose any additional terms or conditions specific to the short sale or pre-foreclosure sale.
What information must be reported on short sale pre-foreclosure addendum to?
Information such as the agreed-upon sales price, any liens or judgments against the property, and the timeline for closing the sale.
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