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SHORT SALE ADDENDUM TO MULTI-BOARD RESIDENTIAL REAL ESTATE CONTRACT 5.0 (Not to be attached to any Contract other than Multi-Board 5.0) SELLER(S): BUYER(S): This Addendum is attached to and made part

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How to fill out short sale addendum to

To fill out a short sale addendum, follow these steps:

01

Start by reading the addendum thoroughly to fully understand its purpose and requirements.

02

Begin by filling in the basic information at the top of the addendum, such as the property address, loan number, and names of the parties involved.

03

Note any specific terms or conditions that need to be addressed in the addendum, such as the sale price, closing date, or contingencies.

04

If there are any additional documents or disclosures required, ensure that they are properly attached to the addendum.

05

Carefully review any check boxes or options provided within the addendum and select the appropriate ones that apply to your situation.

06

Include any additional information or special agreements that have been negotiated and need to be included in the addendum.

07

If there are fields for signatures, make sure all required parties sign and date the addendum.

08

Double-check all the information provided on the addendum for accuracy and completeness before submitting it.

Who needs a short sale addendum?

01

Homeowners who are facing financial hardships and are considering a short sale as an alternative to foreclosure may need to use a short sale addendum.

02

Mortgage lenders or banks that have agreed to allow a short sale on a property may require the use of a short sale addendum to formalize the terms and conditions of the sale.

03

Real estate agents or brokers who are representing buyers or sellers involved in a short sale transaction may need to utilize a short sale addendum to document the agreed-upon terms and protect their clients' interests.

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