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MULTI-BOARD RESIDENTIAL REAL ESTATE CONTRACT 6.0 ... Buyer and Seller acknowledge that a short sale requires the written approval of all of such ...
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How to fill out a short sale addendum:

01
Start by carefully reviewing the addendum form. Familiarize yourself with the specific sections and fields that need to be completed.
02
Gather all the necessary information and documentation. This may include the property address, loan information, homeowner's contact details, and any supporting financial documents.
03
Begin filling out the addendum by providing accurate and detailed information. Take your time to ensure all the information is correct and complete.
04
Pay close attention to any special instructions or requirements mentioned in the addendum. This could include providing additional documentation or signatures from third parties, such as the lender or homeowner.
05
If there are any sections or questions that are unclear, don't hesitate to seek clarification from the appropriate parties involved. It's important to have a clear understanding of the addendum and its implications.

Who needs a short sale addendum:

01
Homeowners who are planning to sell their property through a short sale. A short sale occurs when the proceeds from selling the property fall short of the outstanding mortgage balance.
02
Lenders and financial institutions that are involved in the short sale process. They may require the use of a short sale addendum to document and formalize the terms and conditions of the transaction.
03
Real estate agents and brokers who are assisting in the short sale process. They may need to complete and submit the addendum on behalf of their clients.
In summary, anyone involved in a short sale transaction, including homeowners, lenders, and real estate professionals, may need to fill out and utilize a short sale addendum to ensure all parties are informed and protected throughout the process.
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Short sale addendum is an additional document that is added to a purchase agreement for a short sale property.
The buyer and the seller are typically required to file the short sale addendum.
The short sale addendum should be filled out by providing the required information, signatures, and any additional terms or conditions related to the short sale transaction.
The purpose of the short sale addendum is to outline any special provisions or conditions specific to the short sale transaction.
The short sale addendum may require reporting of financial information, approval deadlines, and any contingencies related to the short sale.
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