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Short Sale Addendum to Purchase and Sale Contract The following provisions are made part of the Contract for Sale and Purchase or Residential Sale and Purchase Contract between (Seller) and (Buyer)

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How to fill out short sale addendum to

How to fill out short sale addendum to:

01

Review the original sales contract: Start by carefully reviewing the original sales contract for the property. Understand the terms and conditions to ensure that the addendum aligns with the existing agreement.

02

Identify what needs to be added or modified: Determine what changes or additions are required to the sales contract. This could include adjusting the purchase price, specifying the timeline for completion, or any other relevant modifications.

03

Obtain the necessary forms: Contact your real estate agent or attorney to obtain the short sale addendum form. This form may vary depending on your location, so it is important to use the correct one.

04

Complete the addendum form: Fill out the addendum form accurately and completely. Ensure that all sections are filled in, including the property address, buyer and seller information, and any specific provisions or conditions that need to be included.

05

Seek professional advice if needed: If you are unfamiliar with the terms or legal jargon used in the addendum, it is recommended to seek professional advice from a real estate attorney or your agent. They can help clarify any confusing sections or provide guidance on proper completion.

06

Review and double-check: Before finalizing the addendum, review it carefully to ensure all the information is correct. Double-check for any spelling errors, discrepancies, or missing details.

07

Sign and date: Both the buyer and seller should sign and date the addendum. Make sure all parties involved receive a copy of the signed addendum for their records.

Who needs short sale addendum to:

01

Homeowners facing financial hardship: Individuals who are struggling financially and are unable to make their mortgage payments may opt for a short sale. In such cases, a short sale addendum is needed to modify the existing sales contract and accommodate the specific circumstances.

02

Buyers interested in purchasing a short sale property: Buyers who are considering purchasing a short sale property will need a short sale addendum to outline the terms and conditions of the sale. This addendum will ensure that both parties are aware of the unique aspects of the transaction and any necessary modifications to the original contract.

03

Real estate agents and attorneys: Real estate agents and attorneys involved in short sale transactions also need the short sale addendum to properly document the agreed-upon changes to the original sales contract. They play a crucial role in guiding their clients through the process and ensuring all legal requirements are met.

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What is short sale addendum to?

Short sale addendum is added to a purchase agreement.

Who is required to file short sale addendum to?

The seller in a short sale transaction is required to file a short sale addendum.

How to fill out short sale addendum to?

To fill out a short sale addendum, one must provide all relevant information regarding the short sale transaction.

What is the purpose of short sale addendum to?

The purpose of a short sale addendum is to outline specific terms and conditions related to the short sale transaction.

What information must be reported on short sale addendum to?

Information such as the sale price, property condition, and closing timeline must be reported on a short sale addendum.

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