Get the free SHORT SALE ADDENDUM TO THE RESIDENTIAL REAL ESTATE PURCHASE CONTRACT ADOPTED BY THE ...
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Page 1 of 2. CBR 5/12. SHORT SALE ADDENDUM TO THE RESIDENTIAL ... Contingent upon Acceptable Short Sale Agreement: Buyer and Seller ...
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How to fill out short sale addendum to
How to fill out a short sale addendum:
01
Start by carefully reviewing the terms and conditions of the short sale addendum. Ensure that you understand all the information and requirements outlined in the document.
02
Gather all the necessary information and documents required for the short sale addendum. This may include financial statements, bank statements, tax returns, and any other relevant documents as specified in the addendum.
03
Fill out the addendum accurately and completely. Provide all the requested information, such as the property address, the current loan amount, and any specific terms or conditions related to the short sale. Be sure to use clear and concise language to avoid any confusion or misunderstandings.
04
If there are any sections or terms that you are unsure about, seek clarification from the appropriate parties. This may involve consulting with your real estate agent, attorney, or lender to ensure that you are completing the addendum correctly.
05
Review the completed addendum thoroughly before submitting it. Double-check all the information provided, ensuring that it is accurate and consistent with the terms of the short sale agreement. Any errors or omissions could potentially delay the short sale process.
Who needs a short sale addendum:
01
Homeowners who are facing financial difficulties and wish to sell their property through a short sale. A short sale occurs when the proceeds from the sale of the property are less than the outstanding mortgage balance.
02
Lenders or banks who hold the mortgage on a property and have agreed to consider a short sale. The lender will generally require the homeowner to complete a short sale addendum as part of the approval process.
03
Real estate agents or brokers who are facilitating the short sale transaction. They may require the homeowner to complete the addendum to ensure that all necessary terms and conditions are properly documented.
In summary, anyone involved in a short sale transaction, including homeowners, lenders, and real estate professionals, may need to fill out a short sale addendum to accurately document the terms and conditions of the sale.
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What is short sale addendum to?
Short sale addendum is added to a real estate purchase contract.
Who is required to file short sale addendum to?
The seller in a short sale transaction is required to file the short sale addendum.
How to fill out short sale addendum to?
The short sale addendum must be filled out with all necessary information related to the short sale transaction, including details about the property, sale price, and any special provisions.
What is the purpose of short sale addendum to?
The purpose of the short sale addendum is to provide additional terms and conditions specific to a short sale transaction that are not covered in the standard purchase contract.
What information must be reported on short sale addendum to?
Information such as short sale approval terms, seller contributions, closing cost credits, and any other special conditions must be reported on the short sale addendum.
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