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SHORT SALE ADDENDUM To be used in conjunction with the Residential Real Estate Purchase Agreement approved by the Toledo Board of Realtors and the Toledo Bar Association, who have also approved this
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How to fill out short sale addendum to:

01
Start by carefully reading the instructions provided on the short sale addendum form. Make sure you understand all the terms and conditions before proceeding.
02
Begin by entering the necessary information at the top of the form, such as your name, address, contact details, and the date.
03
Identify the property involved in the short sale by providing its address, legal description, and any other relevant information requested on the form.
04
Next, you may need to specify the purchase price offered for the property. Fill in this amount accurately and ensure it matches the terms agreed upon with the buyer.
05
If there are any contingencies or conditions related to the sale, such as inspections or repairs, provide a clear and concise explanation in the appropriate section of the addendum.
06
Include any additional terms or provisions that you wish to include in the short sale addendum. This could involve specific payment terms, responsibilities of the buyer or seller, or any other relevant details.
07
Review the entire form for accuracy and completeness, making sure you have filled in all the required sections accurately. Check for any spelling or grammatical errors as well.
08
Once you are satisfied with the information provided, sign and date the short sale addendum in the designated spaces. If required, have any other parties involved in the transaction also sign the document.
09
Keep a copy of the completed and signed short sale addendum for your records. It can serve as an important legal document in case any disputes or discrepancies arise during the transaction.

Who needs short sale addendum to:

01
Homeowners who are in a situation where they need to sell their property but owe more on their mortgage than the property's current value may need a short sale addendum.
02
Real estate agents and brokers involved in facilitating short sale transactions should be familiar with short sale addendums and their importance in protecting the interests of both buyers and sellers.
03
Potential buyers considering purchasing a property through a short sale should also be aware of the existence and significance of the short sale addendum. It outlines any additional terms or conditions specific to the short sale scenario.
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Short sale addendum is an additional document added to a real estate contract.
Both the buyer and the seller are required to file the short sale addendum.
The short sale addendum should be filled out with accurate and detailed information regarding the terms of the sale.
The purpose of the short sale addendum is to outline any specific terms or conditions related to the short sale transaction.
Information such as the purchase price, closing date, and any contingencies must be reported on the short sale addendum.
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Relevant keywords

PURCHASERS hereinafter Purchaser appraisals incurring Creditor concurrently whereupon Realtors ADDENDUM diligently incur inspections Creditors Notwithstanding Contingent submission subsequently conjunction Termination Documentation Earnest Sellers proceed

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