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1 2The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (SSA38108) (Mandatory 308)3 4 5THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES
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01
To fill out the Colorado short sale addendum, follow these steps:
02
Read the addendum carefully and familiarize yourself with its content.
03
Provide the necessary information in the designated sections, such as the property address, listing agent details, and buyer's details.
04
Fill in any additional terms or conditions applicable to the short sale transaction.
05
Review the completed addendum for accuracy and ensure all required fields are filled in.
06
Sign and date the addendum along with any other parties involved in the transaction, such as the buyer and seller.
07
Make copies of the signed addendum for all parties involved and keep them for your records.

Who needs colorado short sale addendum?

01
The Colorado short sale addendum is typically required in a real estate transaction where the seller is participating in a short sale. It is necessary when the seller's mortgage lender agrees to accept less than the outstanding mortgage balance as full payment for the property. The addendum outlines the specific terms and conditions of the short sale agreement between the buyer, seller, and lender, ensuring all parties are aware of their rights and responsibilities.
02
Buyers, sellers, listing agents, and lenders involved in a short sale transaction in Colorado would need to use the Colorado short sale addendum.
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Colorado short sale addendum is a document that is added to a real estate sales contract when the property is being sold as a short sale.
The seller and buyer are required to file the Colorado short sale addendum as part of the real estate sales contract.
The Colorado short sale addendum should be filled out by providing all required information, reviewing the terms and conditions, and obtaining signatures from both the seller and buyer.
The purpose of the Colorado short sale addendum is to outline specific terms and conditions that apply to the sale of a property through a short sale, such as the approval process from the lender.
The Colorado short sale addendum must include details about the property, seller, buyer, purchase price, terms of the sale, and any additional conditions that apply.
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