Get the free 104- Short Sale Addendum to Listing Agreement.pdf

SHORT SALE ADDENDUM TO EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT (to be used with NEAR standard form 101 or 103) Property Address: The additional provisions set forth below are hereby made a part

How to fill out 104- short sale addendum

How to fill out 104- short sale addendum:

1. Obtain a copy of the 104- short sale addendum form. You can typically find this form on the website of the relevant real estate board or association.
2. Read through the form carefully to familiarize yourself with its content and requirements. Pay attention to any specific instructions or guidelines mentioned.
3. Begin by filling out the header section of the form, which typically includes the property address, the seller's name and contact information, and the buyer's name and contact information.
4. Provide the details of the short sale transaction, such as the agreed-upon purchase price, the anticipated closing date, and any special terms or conditions that apply.
5. Include information about the seller's financial situation, including their reason for considering a short sale and any financial hardships they are experiencing.
6. If there are any liens or encumbrances on the property, disclose this information in the appropriate section of the form.
7. If the short sale requires the approval of a third party, such as a lender or mortgage holder, provide their contact information and any relevant details.
8. Review the completed form for accuracy and completeness. Make sure all necessary signatures are obtained from both the seller and the buyer.
9. Submit the filled out 104- short sale addendum form as instructed, usually to the listing agent or the involved legal representative.

Who needs 104- short sale addendum:

1. Sellers who are considering a short sale of their property, where they are selling the property for less than what is owed on their mortgage.
2. Buyers who are involved in a short sale transaction, where they are purchasing a property that is being sold for less than the outstanding mortgage balance.
3. Real estate agents or brokers who are representing either the seller or the buyer in a short sale transaction. They may need to ensure that the necessary documentation, such as the 104- short sale addendum, is properly completed and submitted.

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What is 104- short sale addendum?

The 104- short sale addendum is a document that is often used in real estate transactions involving the sale of a property for less than what is owed on the mortgage.

Who is required to file 104- short sale addendum?

The 104- short sale addendum is typically required to be filed by the seller, the buyer, and potentially the lender involved in the short sale transaction.

How to fill out 104- short sale addendum?

To fill out the 104- short sale addendum, all parties involved in the transaction must provide requested information such as property details, sale price, terms of the agreement, and signatures.

What is the purpose of 104- short sale addendum?

The purpose of the 104- short sale addendum is to outline the specific terms and conditions of the short sale agreement to ensure all parties are in agreement before proceeding with the transaction.

What information must be reported on 104- short sale addendum?

The 104- short sale addendum typically requires information such as property address, sale price, mortgage information, financial details, and any special terms or conditions agreed upon by the parties.