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Smith and Associates Title Services, Inc. Contract Addendum Re: Seller(s): Buyer(s): Property: The Parties hereby agree Renee M. Smith Esq. Shall handle the short sale negotiations with Sellers lender

How to fill out short sale contract addendum

How to fill out a short sale contract addendum:

1. Begin by reading the original short sale contract thoroughly to understand its terms and conditions.
2. Identify the specific changes or additional terms that need to be included in the contract addendum.
3. Clearly state the purpose of the addendum at the top of the document, such as "Addendum to Short Sale Contract."
4. Include a reference to the original contract by stating its title, date, and parties involved.
5. Use numbered sections or bullet points to clearly outline the changes or additions to the original contract.
6. Clearly explain each change or addition in a concise and specific manner, providing all necessary details and specifications.
7. If applicable, include any required signatures or initials of the parties involved in the addendum.
8. Review the completed addendum to ensure accuracy and clarity before submitting it.
9. Keep a copy of the signed addendum for your records and provide copies to all necessary parties involved in the short sale transaction.

Who needs a short sale contract addendum:

1. Homeowners or property sellers who are engaged in a short sale transaction to sell their property for less than the outstanding mortgage balance.
2. Real estate agents or brokers involved in the short sale process on behalf of the homeowner.
3. Lenders or mortgage companies who are approving the short sale and require additional terms or changes to the original contract to protect their interests.
4. Buyers or investors interested in purchasing a property through a short sale may also need to review and sign a short sale contract addendum.

By following these steps, individuals can successfully fill out a short sale contract addendum and meet the necessary requirements of the short sale transaction.

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What is short sale contract addendum?

Short sale contract addendum is a document that is added to a real estate contract to outline additional terms and conditions specific to a short sale transaction.

Who is required to file short sale contract addendum?

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

How to fill out short sale contract addendum?

The short sale contract addendum should be filled out by both parties involved in the transaction, with all required information and signatures.

What is the purpose of short sale contract addendum?

The purpose of short sale contract addendum is to clearly outline the terms and conditions of the short sale transaction, including any special agreements between the buyer and seller.

What information must be reported on short sale contract addendum?

The short sale contract addendum must include details such as the sale price, any contingencies, the timeline for closing, and any specific conditions related to the short sale.