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Short Sale Listing Addendum Listing Information: (Date) (Loan Number) Seller(s): Seller(s): Property Address: City, State, Zip Code: Date of original listing agreement: Listing Agent/Broker Name:
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How to fill out short sale listing addendum
How to fill out short sale listing addendum:
01
Begin by obtaining a copy of the short sale listing addendum form. This form is typically provided by the real estate agent or broker overseeing the short sale process.
02
Familiarize yourself with the terms and conditions outlined in the addendum. Make sure you understand the specific requirements and obligations related to the short sale transaction.
03
Fill in all the necessary information on the addendum form. This may include details about the property, the seller, the listing agent, and any additional parties involved in the sale.
04
Pay close attention to any checkboxes or sections that require your attention. For example, there may be a section regarding the seller's financial hardship or any known liens or encumbrances on the property.
05
Review the completed addendum carefully for accuracy and completeness. Double-check all the information provided and ensure that it aligns with the main listing agreement and any other relevant documents.
06
Once you have reviewed and confirmed the accuracy of the addendum, sign and date the document. If applicable, have any other required parties, such as the seller or the buyer, also sign the addendum.
07
Keep a copy of the completed addendum for your records and provide copies to all relevant parties involved in the short sale transaction, such as the seller, the buyer, the listing agent, and the lender.
Who needs short sale listing addendum:
01
Sellers who are attempting to sell their property through a short sale. A short sale occurs when the proceeds from the sale fall short of the outstanding mortgage balance, and the lender agrees to accept less than the full amount owed.
02
Listing agents who are working with sellers on short sale transactions. These agents are responsible for completing the necessary paperwork, including the short sale listing addendum, which outlines the specific terms and conditions of the short sale.
03
Buyers who are interested in purchasing a property through a short sale. These buyers may need to review and agree to the terms outlined in the short sale listing addendum before proceeding with the purchase.
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What is short sale listing addendum?
Short sale listing addendum is a document that outlines additional terms and conditions specific to a short sale transaction.
Who is required to file short sale listing addendum?
The seller and listing agent are typically required to file the short sale listing addendum.
How to fill out short sale listing addendum?
The short sale listing addendum can be filled out by providing all the necessary information requested in the document.
What is the purpose of short sale listing addendum?
The purpose of the short sale listing addendum is to ensure that all parties involved in the transaction are aware of the specific terms and conditions related to the short sale.
What information must be reported on short sale listing addendum?
Information such as the sales price, any repairs that need to be completed, and specific disclosure requirements may need to be reported on the short sale listing addendum.
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