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SHORT SALE ADDENDUM TO PURCHASE AGREEMENT (and Joint Escrow Instructions) 1 In reference to the Purchase Agreement executed by 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27

How to fill out short sale addendum to

How to fill out short sale addendum to:

1. Obtain the necessary forms: Start by acquiring the short sale addendum to form. This document may be available online, through your real estate agent, or from the bank that holds the mortgage on the property.
2. Read the instructions: Carefully read the instructions provided with the short sale addendum to form. This will give you a clear understanding of what information needs to be included and how to complete the form correctly.
3. Identify the property: Begin by entering the property address and other identifying information at the top of the form. This ensures that the addendum is specific to the particular property being sold.
4. List the parties involved: Include the names and contact information of the buyer, seller, and their respective agents. This section ensures that all parties involved in the transaction are clearly identified.
5. Describe the terms and conditions: Specify the terms and conditions of the short sale agreement. This includes details such as the purchase price, any contingencies, closing date, and any other relevant terms agreed upon by both parties.
6. Provide additional disclosures: If there are any additional disclosures or information that needs to be included, be sure to include them in the appropriate section of the addendum. This may include special provisions, lender requirements, or any other relevant information.
7. Review and sign: Carefully review the completed short sale addendum to form to ensure that all information is accurate and complete. Once satisfied, all parties involved should sign and date the document to signify their agreement to its terms.

Who needs short sale addendum to:

1. Homeowners facing financial hardship: A short sale addendum may be necessary when a homeowner is struggling to make mortgage payments and wants to sell their property for less than what is owed on the mortgage. This allows them to avoid foreclosure and negotiate with the lender to accept a lower sales price.
2. Buyers interested in purchasing a short sale property: Buyers looking to purchase a short sale property will often need to complete a short sale addendum as part of the transaction. This document outlines the specific terms and conditions of the sale, including any lender requirements or contingencies.
3. Lenders and real estate agents: Lenders and real estate agents involved in a short sale transaction may require a short sale addendum to ensure that all parties are in agreement and that the sale is being conducted properly according to the lender's guidelines.

Overall, the short sale addendum to provides a clear and concise framework for all parties involved in a short sale transaction, ensuring that the process is properly documented and executed.

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What is short sale addendum to?

Short sale addendum is a document added to a real estate purchase agreement that outlines specific terms and conditions related to a short sale transaction.

Who is required to file short sale addendum to?

The seller and buyer involved in a short sale transaction are usually required to file a short sale addendum.

How to fill out short sale addendum to?

The short sale addendum should be filled out by including relevant information such as the purchase price, closing date, and terms specific to the short sale agreement.

What is the purpose of short sale addendum to?

The purpose of a short sale addendum is to provide clarity and transparency in a short sale transaction by outlining specific terms and conditions agreed upon by the buyer and seller.

What information must be reported on short sale addendum to?

Information such as the purchase price, closing date, seller concessions, and any special terms related to the short sale transaction must be reported on the short sale addendum.