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SHORT SALE ADDENDUM TO AGREEMENT OF SALE SHS This form recommended and approved for, but not restricted to use by, the members of the Pennsylvania Association of REALTORS (PAR×. 1 2 PROPERTY SELLER
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01
Read the instructions: Before starting, it is crucial to thoroughly read and understand the instructions provided on the short sale addendum form. This will ensure that you fill it out correctly and provide all the necessary information.
02
Provide property details: Begin by filling out the property details section of the addendum. This includes the property address, legal description, and any other relevant information about the property being sold.
03
List the parties involved: Next, you will need to identify all the parties involved in the short sale. This typically includes the seller, buyer, and any other necessary parties such as real estate agents or attorneys. Make sure to provide their full names, contact information, and roles in the transaction.
04
Specify purchase details: In this section, you will need to outline the purchase price, terms, and conditions of the short sale agreement. This includes the purchase price offered by the buyer, any contingencies or conditions that need to be met, and the proposed closing date.
05
Include additional terms: If there are any additional terms or conditions that need to be addressed in the short sale, such as repairs, financing arrangements, or special agreements between parties, make sure to include them in this section.
06
Disclose any other documents: If there are any other documents or addendums that need to be attached to the short sale addendum, specify them in this section. This ensures that all necessary paperwork is accounted for and properly filed.
07
Date and sign: Finally, make sure to date and sign the short sale addendum. Additionally, have all other parties involved in the transaction sign the document as well. This helps to establish that everyone agrees to the terms and conditions outlined in the addendum.

Who needs short sale addendum for?

01
Homeowners selling their property through a short sale: Short sale addendums are primarily used by homeowners who are selling their property through a short sale process. This is usually done when the proceeds from the sale will be insufficient to cover the outstanding mortgage balance.
02
Real estate agents and brokers: Real estate professionals involved in a short sale transaction may also require a short sale addendum. It helps to document the specifics of the agreement and protects all parties involved in the transaction.
03
Buyers interested in purchasing a short sale property: Buyers who are considering purchasing a property through a short sale may need a short sale addendum to outline the terms and conditions of the purchase. This addendum ensures that both the buyer and seller understand and agree to the terms of the sale.
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The short sale addendum is used to outline additional terms and conditions specific to the sale of a property that is being sold short of what is owed on the mortgage.
The seller and buyer involved in the short sale transaction are required to file the short sale addendum.
The short sale addendum can be filled out by completing all the necessary fields with accurate information regarding the terms and conditions of the short sale transaction.
The purpose of the short sale addendum is to ensure that all parties involved in the short sale transaction are aware of and agree to the specific terms and conditions outlined in the addendum.
The short sale addendum must include information such as the agreed-upon sales price, the amount owed on the mortgage, any additional fees or costs, and the timeline for the completion of the sale.
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