Get the free Short Sale Addendum to Sales Contract - 809.pdf

Short Sale Addendum to Sales Contract (For use in Montgomery County and Washington, DC) The Contract of Sale dated City, Address, State Zip between Seller and Buyer is hereby amended by the incorporation

How to fill out short sale addendum to

How to fill out short sale addendum to:

1. Begin by gathering all the necessary information and documents related to the short sale, such as the original sales contract, any amendments, and the seller's financial information.
2. Review the addendum form carefully, ensuring that you understand all the terms and provisions. Take note of any required fields or sections that need to be filled out.
3. Start by filling out the basic information, such as the name of the seller, property address, and the date the addendum is being filled out.
4. Proceed to the main content of the addendum. This typically includes sections related to the purchase price, earnest money deposit, financing contingencies, and any additional terms or conditions that need to be agreed upon.
5. Fill in the purchase price section, stating the agreed-upon amount between the buyer and seller.
6. If there are any changes to the earnest money deposit, indicate the revised amount and any necessary instructions regarding its handling.
7. If there are financing contingencies, explain them clearly and specify any deadlines or requirements that need to be met.
8. Review any additional terms or conditions included in the addendum and fill in the relevant information accordingly. These may include items such as property repairs, seller credits, or special provisions unique to the short sale.
9. Once you have completed all the required sections of the addendum, review the document thoroughly to ensure accuracy and to check for any omissions or mistakes.
10. Have both the seller and buyer carefully read and sign the addendum.

Who needs short sale addendum to:

1. Homeowners who are experiencing financial hardships and are looking to sell their property for less than the outstanding mortgage balance may need a short sale addendum.
2. Buyers who are interested in purchasing a property through a short sale may also need a short sale addendum to ensure that all the necessary terms and conditions are properly documented.
3. Real estate agents or brokers involved in short sale transactions may require a short sale addendum to protect their clients' interests and outline the specific terms of the sale.

Note: It is important to consult with a real estate attorney or professional experienced in short sales to ensure that the addendum is filled out correctly and in compliance with local regulations and guidelines.

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What is short sale addendum to?

Short sale addendum is a document attached to the purchase agreement in real estate transactions involving the sale of a property for less than what is owed on the mortgage.

Who is required to file short sale addendum to?

The seller and buyer in a real estate transaction where a short sale is involved are required to file the short sale addendum.

How to fill out short sale addendum to?

The short sale addendum should be filled out by both parties involved in the transaction, detailing the terms and conditions of the short sale.

What is the purpose of short sale addendum to?

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

What information must be reported on short sale addendum to?

The short sale addendum must include details such as the sale price, any negotiations regarding the sale, and any additional terms or conditions agreed upon by both parties.