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The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (SSA38-2-08) (Mandatory 3-08) 0 1 2 3 4 5 THIS FORM HAS IMPORTANT LEGAL
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How to fill out short sale addendum:

01
Begin by reviewing the short sale addendum form provided by your lender or real estate agent. Familiarize yourself with the sections and terms used in the document.
02
Enter the required information accurately, such as the seller's name, property address, and loan details.
03
Carefully read and understand each provision in the addendum. It may include clauses regarding the approval process, timelines, and conditions for the short sale.
04
Provide any additional information that may be requested, such as the reason for the short sale, financial hardship details, and supporting documents.
05
Consult with your real estate agent or attorney if there are any sections or terms that you are unsure about. They can guide you through the process and ensure that you complete the addendum correctly.
06
Sign the short sale addendum along with any necessary witnesses or notaries as required. Keep a copy for your records.

Who needs a short sale addendum:

01
Homeowners who are in financial distress and unable to keep up with their mortgage payments.
02
Potential buyers interested in purchasing a property through a short sale process.
03
Lenders or banks that require additional documentation and agreements to proceed with a short sale transaction.
Note: It is important to consult with a real estate professional or attorney for specific guidance and advice regarding your individual circumstances and legal requirements when filling out a short sale addendum.
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The short sale addendum is a document that is added to a real estate contract to specify terms and conditions related to a short sale transaction.
The seller and buyer involved in a short sale transaction are required to file the short sale addendum.
To fill out the short sale addendum, both parties must provide the necessary information and agree to the terms specified in the document.
The purpose of the short sale addendum is to outline the specific terms and conditions related to a short sale transaction to ensure all parties are in agreement.
The short sale addendum must include details such as the sale price, closing date, any contingencies, seller contributions, and any other terms specific to the short sale agreement.
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Colorado SSA38-2-08 MEC guarantors DISCLOSURES Counterproposal mitigation liens differentiated structuring creditor submits lender promissory guarantor Consents disclosing remuneration additions repayment representations acknowledges evidenced information

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