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1 SHORT SALE ADDENDUM 2 TO PURCHASE AGREEMENT 3 (and Joint Escrow Instructions) 4 5 In reference to the Purchase Agreement executed by as Buyer(s) and 6 7 as Seller(s), dated 8 covering the real property
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How to fill out 1 short sale addendum
How to fill out 1 short sale addendum:
01
Gather all the required information and documents related to the short sale transaction, including the property details, seller and buyer information, and any supporting financial documents.
02
Start by filling out the heading section of the addendum, which typically includes the property address, transaction details, and the names of the parties involved.
03
Proceed to the sections that require specific information about the short sale, such as the purchase price, any necessary repairs or conditions, and the terms of the sale.
04
Carefully read and understand each provision and checkbox in the addendum form. Make sure to accurately complete any relevant sections, such as contingency clauses or disclosures.
05
If there are any additional addenda or attachments required for the short sale, ensure that they are properly included and referenced within the addendum.
06
Review the completed addendum thoroughly to check for any errors or missing information. It is crucial to be precise and detail-oriented during this process.
07
Once you have completed filling out the addendum, have all parties involved in the short sale transaction review and sign the document. This includes the seller, buyer, listing agent, and buyer's agent, if applicable.
08
Keep a copy of the filled-out addendum for your records, and provide copies to all parties involved in the transaction as necessary.
Who needs 1 short sale addendum?
01
Homeowners who are facing financial hardship and are unable to pay their mortgage may need a short sale addendum. This document is typically required when the homeowner wishes to sell the property for less than the amount owed on the mortgage.
02
Buyers who are interested in purchasing properties through a short sale may also need a short sale addendum. This document is necessary to outline the specific terms and conditions of the transaction, as well as any contingencies or disclosures related to the short sale.
03
Real estate agents and brokers involved in short sale transactions may also require a short sale addendum to streamline the process, protect their clients' interests, and ensure all necessary information and disclosures are properly documented.
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What is 1 short sale addendum?
1 short sale addendum is a document that outlines additional terms and conditions related to a short sale transaction.
Who is required to file 1 short sale addendum?
The seller, buyer, and real estate agents involved in the short sale transaction are required to file 1 short sale addendum.
How to fill out 1 short sale addendum?
1 short sale addendum can be filled out by providing the necessary details about the additional terms and conditions agreed upon by all parties involved in the short sale transaction.
What is the purpose of 1 short sale addendum?
The purpose of 1 short sale addendum is to clarify and document any additional terms and conditions that are not included in the main sales contract.
What information must be reported on 1 short sale addendum?
The information reported on 1 short sale addendum may include specific terms related to the short sale transaction, such as timelines, contingencies, and responsibilities of each party.
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