Get the free Short Sale Addendum to Exclusive Listing

SHORT SALES ADDENDUM TO EXCLUSIVE LISTING AGREEMENTS THIS ADDENDUM IS HEREBY MADE A PART OF THE ANNEXED EXCLUSIVE LISTING AGREEMENT BY AND BETWEEN OWNER’S)/SELLER’S): AND AGENT: FOR THE SALE OF

How to fill out short sale addendum to

How to fill out a short sale addendum:

1. Review the addendum form: Start by carefully reading through the short sale addendum form. Understand its purpose and what information it requires.
2. Gather necessary information: Collect all the necessary information that will be needed to complete the addendum. This may include the buyer's and seller's names, property address, sales price, existing liens, and any other relevant details.
3. Fill in the required fields: Begin by entering the requested information in the appropriate fields on the addendum form. Make sure to provide accurate and up-to-date information.
4. Provide additional details if required: Some short sale addendums may have additional sections or fields where you will need to provide further details. Carefully review these sections and provide the necessary information to complete them.
5. Consult with the lender or real estate professional: If you have any doubts or questions while filling out the short sale addendum, reach out to your lender or real estate professional for guidance. They can provide you with clarification and ensure the addendum is completed correctly.
6. Review and double-check: Once you have filled out all the required information, take the time to review the addendum form thoroughly. Double-check for any errors or omissions, ensuring that all the provided information is accurate and complete.

Who needs a short sale addendum?

A short sale addendum may be needed in situations where a property is being sold for less than the outstanding mortgage balance owed by the homeowner. Typically, this would involve homeowners who are experiencing financial hardship and are unable to keep up with their mortgage payments. The addendum is often required by the lender as part of the short sale process to document the terms and conditions of the sale. Additionally, real estate professionals, including buyers, sellers, and their agents, may also need the short sale addendum to facilitate the transaction and ensure compliance with the lender's requirements.

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