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Pinnacle Short Sale Addendum (PSA, Revised 5×12) This is an addendum to the Purchase Agreement (CARPA×, Counter Offer (CO×, Or Other (Agreement×, dated, on property known as (Property×, between

How to fill out pinnacle short sale addendum

How to Fill out Pinnacle Short Sale Addendum:

1. Obtain the necessary form: The first step to filling out the Pinnacle Short Sale Addendum is to obtain the required form. This can typically be done by contacting your real estate agent or searching for the form online.
2. Read the instructions: Before starting to fill out the addendum, it is important to read the instructions provided. This will help ensure that you are completing the form correctly and including all necessary information.
3. Provide property information: Begin by entering the relevant property information in the designated sections of the addendum. This may include the property address, legal description, and any other details required.
4. Disclose additional costs: If there are any additional costs associated with the short sale, such as unpaid homeowners association fees or outstanding property taxes, make sure to disclose these in the appropriate sections of the addendum.
5. Include lender information: Provide the name and contact information of the lender who holds the mortgage on the property. This information is crucial for the short sale process.
6. State the purchase price: Clearly state the agreed-upon purchase price for the property in the corresponding section of the addendum. Make sure to include any stipulations or contingencies that may apply.
7. Specify closing date: Indicate the desired closing date for the short sale transaction. This date should be mutually agreed upon by all parties involved.
8. Sign the addendum: After completing all the necessary sections, sign the addendum along with any other required parties, such as co-buyers, sellers, or agents. Make sure to date the document as well.
9. Keep a copy for your records: Once the addendum is fully completed and signed, make sure to keep a copy for your records. This will serve as proof of the agreed-upon terms and conditions.

Who Needs Pinnacle Short Sale Addendum:

1. Homeowners facing financial hardship: The Pinnacle Short Sale Addendum is typically needed by homeowners who are experiencing financial difficulties and have decided to sell their property through a short sale. This addendum helps outline the specific terms and conditions of the short sale process.
2. Real estate agents and brokers: Agents and brokers who are involved in facilitating short sale transactions may also require the Pinnacle Short Sale Addendum. This form ensures that all parties involved are aware of and agree to the terms outlined.
3. Lenders and mortgage holders: Lenders and mortgage holders who are considering approving a short sale request may also require the completion of the Pinnacle Short Sale Addendum. This allows them to review and assess the proposed terms of the sale before making a decision.

In conclusion, the Pinnacle Short Sale Addendum is essential for homeowners, real estate professionals, and lenders involved in short sale transactions. By following the step-by-step guide provided and ensuring all required parties sign the document, the addendum can help facilitate a smooth short sale process.

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What is pinnacle short sale addendum?

The pinnacle short sale addendum is a document used in real estate transactions to add specific terms and conditions related to a short sale.

Who is required to file pinnacle short sale addendum?

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

How to fill out pinnacle short sale addendum?

The pinnacle short sale addendum can be filled out by completing all required fields with accurate information related to the short sale transaction.

What is the purpose of pinnacle short sale addendum?

The purpose of the pinnacle short sale addendum is to outline additional terms and conditions specific to a short sale transaction to ensure all parties are in agreement.

What information must be reported on pinnacle short sale addendum?

The pinnacle short sale addendum must include details such as the agreed upon purchase price, any repairs or upgrades required, and the timeline for completing the transaction.