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Short Sale Addendum to the Listing Agreement (For use in Montgomery County and Washington, DC) Property Address Unit Known as Lot(s) Parking Space(s) # Subdivision/Project City Block/Square State

How to fill out short sale addendum to

Point by point on how to fill out short sale addendum to:

1. Start by gathering all the necessary information and documentation related to the short sale. This may include the property address, seller's contact information, details of the buyer, lender information, and any applicable purchase and sale agreement.
2. Carefully read through the short sale addendum to form. Understand the purpose of each section and the information required. It is essential to familiarize yourself with the terms and conditions associated with the short sale.
3. Begin filling out the addendum form by providing the relevant property information, such as the address, legal description, and any other details required in the designated sections.
4. Include the details of the seller, including their name, contact information, and any authorized representatives involved in the short sale transaction.
5. Provide the necessary information regarding the buyer, including their name, contact details, and any required signatures.
6. Ensure the lender information is accurately entered, including the name of the lender, loan number, and any additional contact details.
7. Carefully review all the terms and conditions outlined in the short sale addendum to form. Make sure to complete any required fields related to specific provisions, contingencies, or special provisions agreed upon between the buyer and seller.
8. Attach any additional documentation required, such as financial statements, hardship letters, or lender-requested forms. These documents may vary based on the specific requirements of the short sale.
9. Complete the form by adding the signature of the seller, buyer, and any other authorized individuals involved in the transaction. Ensure that all signatures are original and dated appropriately.
10. Keep a copy of the filled-out short sale addendum to form for your records and provide copies to all parties involved in the transaction, including the buyer, seller, and the lender.

Who needs short sale addendum to?

A short sale addendum is typically needed for real estate transactions involving a property being sold for an amount less than the outstanding mortgage balance. It is required when the seller, buyer, and lender agree to pursue a short sale to prevent foreclosure or other financial hardships.

1. Sellers: Homeowners who are experiencing financial difficulties and are unable to pay off their mortgage debt may initiate a short sale. They need to fill out the short sale addendum to form to provide the necessary information for the transaction.
2. Buyers: Individuals interested in purchasing a property through a short sale process will also require the short sale addendum to form. It helps outline the terms and conditions associated with the purchase and protects the buyer's interests.
3. Lenders: Financial institutions that hold the mortgage on the property being sold are involved in the short sale process. They will review and evaluate the short sale addendum to form to determine if they will agree to the terms proposed by the buyer and seller.

In conclusion, anyone involved in a short sale transaction, including sellers, buyers, and lenders, may need a short sale addendum to in order to proceed with the sale and protect their interests.

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What is short sale addendum to?

Short sale addendum is added to the 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 should be filled out with all necessary information regarding the sale and any additional terms or conditions.

What is the purpose of short sale addendum to?

The purpose of the short sale addendum is to outline any specific agreements or conditions related to the short sale transaction that are not covered in the standard purchase contract.

What information must be reported on short sale addendum to?

The short sale addendum must include details such as the approval of the lender, any financial obligations of the parties involved, and any contingencies that may affect the sale.