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SHORT SALE ADDENDUM TO THE PURCHASE AND SALE AGREEMENT 1 Property Address: 2 Buyer: 3 Seller: 4 5 6 7 8 This SHORT SALE ADDENDUM TO THE PURCHASE AND SALE AGREEMENT (hereinafter Addendum), between
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Point by point guide to filling out a short sale addendum:

01
Gather all relevant information: Before filling out the short sale addendum, make sure you have all the necessary information. This includes the property address, the borrower's name, contact information, and loan information.
02
Review the terms and conditions: Carefully read through the short sale addendum to understand the terms and conditions set forth by the lender. Pay close attention to any specific requirements or provisions that need to be fulfilled.
03
Complete the necessary sections: Fill out the required sections of the addendum, such as the borrower's personal information, the property details, and any additional terms or conditions that may apply. Ensure that all information is accurate and current.
04
Provide supporting documentation: Attach any supporting documentation requested by the lender, such as financial statements, hardship letters, or property valuations. These documents help support your case for a short sale.
05
Seek professional advice if needed: If you are unsure about any aspect of filling out the short sale addendum, it is advisable to seek professional advice. Consult with a real estate attorney, financial advisor, or a real estate agent experienced in short sales to ensure you are completing the addendum correctly.

Who needs a short sale addendum?

01
Homeowners facing financial hardship: Individuals who are struggling to make mortgage payments and are at risk of foreclosure may need to pursue a short sale. In such cases, a short sale addendum is necessary to initiate the process with the lender.
02
Real estate agents and brokers: Agents or brokers who are representing homeowners in a short sale transaction often use a short sale addendum to document the agreement between the seller and the buyer, as well as any additional terms or conditions.
03
Lenders and financial institutions: Lenders and financial institutions that are willing to consider a short sale request may require a short sale addendum to be completed by the homeowner. This document helps streamline the process and provides legal protection for all parties involved.
Remember, before starting the process or filling out any legal document, it is crucial to consult with professionals in the real estate industry or seek legal advice to ensure compliance and a smooth transaction.
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Short sale addendum is a document added to a purchase agreement to outline specific terms and conditions related to the sale of a property as a short sale.
The seller, buyer, and real estate agents involved in a short sale transaction are required to file the short sale addendum.
The short sale addendum should be filled out by providing all necessary information related to the short sale transaction, including terms, conditions, and any additional agreements.
The purpose of the short sale addendum is to ensure that all parties involved in a short sale transaction are aware of and agree to the specific terms and conditions of the sale.
Information such as sale price, terms of the sale, closing date, and any contingency clauses should be reported on the short sale addendum.
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