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Short Sale Addendum to Buy and Sell Agreement Date:, 2 1. In reference to the Buy and Sell Agreement between the Buyer and2. The Seller, with a referenced contract date of, covering the3.real property

How to fill out short sale addendum to

How to fill out short sale addendum to

1. To fill out a short sale addendum, follow these steps:
2. Begin by obtaining a copy of the short sale addendum form. This form is typically provided by the lender or the real estate agent handling the short sale process.
3. Read the instructions on the form carefully to understand the purpose and requirements of the addendum.
4. Fill in the necessary personal information, such as the name of the buyer and seller, contact information, and property address.
5. Follow the sections or points listed on the addendum form. It may include information about the purchase price, deposit, financing contingencies, repairs, and disclosures.
6. Provide any additional information or disclosures required by your specific circumstances, such as any known liens or encumbrances on the property.
7. Review the completed addendum form thoroughly to ensure accuracy and completeness.
8. Sign the addendum along with all other parties involved in the short sale process, such as the buyer, the seller, and the real estate agents.
9. Make copies of the signed addendum for all parties involved and keep a copy for your records.
10. Submit the completed addendum to the appropriate party, such as the lender or the escrow company, as instructed by your real estate agent or attorney.
11. Please note that the exact steps and requirements may vary depending on your location and the specific short sale process involved.

Who needs short sale addendum to?

1. A short sale addendum may be needed by individuals involved in a short sale transaction. This includes:
2. - Homeowners who are having difficulty making mortgage payments and have entered into negotiations with their lender to sell the property at a lesser amount than what is owed.
3. - Buyers who are interested in purchasing a property through a short sale.
4. - Real estate agents and brokers who are assisting clients with short sale transactions.
5. - Lenders and financial institutions involved in the short sale process.
6. The short sale addendum is used to document and outline the terms and conditions specific to the short sale transaction, and it may be required by the lender or other parties involved to ensure all necessary information is disclosed and agreed upon.

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