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MI Short Sale Addendum to Buy and Sell Agreement 2010-2025 free printable template

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SHORT SALE ADDENDUM TO BUY AND SELL AGREEMENTDate:, covering Property located at between Seller and buyer for the Property commonly known as this addendum to be deemed part of the attached Buy and
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How to fill out MI Short Sale Addendum to Buy and

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How to fill out MI Short Sale Addendum to Buy and Sell

01
Gather all necessary documents related to the property.
02
Ensure you have the contact information for the lender involved in the short sale.
03
Fill out the buyer and seller information sections with accurate details.
04
Clearly state the terms of the sale including purchase price and contingencies.
05
Indicate that this is a short sale on the form.
06
Attach any required disclosures and agreements related to the short sale.
07
Review the completed addendum for accuracy.
08
Obtain signatures from both the buyer and seller.
09
Submit the addendum to the lender as part of the short sale package.

Who needs MI Short Sale Addendum to Buy and Sell?

01
Buyers interested in purchasing property through a short sale.
02
Sellers who are in the process of conducting a short sale to avoid foreclosure.
03
Real estate agents handling transactions involving short sales.
04
Lenders who require documentation for processing short sale transactions.
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The MI Short Sale Addendum to Buy and Sell is a legal document used in real estate transactions involving a short sale where the sale proceeds are insufficient to pay off the existing mortgage debt.
The seller and the buyer of the property are typically required to file the MI Short Sale Addendum to Buy and Sell when the transaction qualifies as a short sale.
To fill out the MI Short Sale Addendum, both parties need to provide relevant details about the property, the existing mortgage, and the terms of the sale, ensuring all sections of the document are completed accurately.
The purpose of the MI Short Sale Addendum is to inform all parties involved about the short sale process, outline required disclosures, and clarify obligations regarding the sale of the property.
The MI Short Sale Addendum must report details such as the property's address, the amount owed on the current mortgage, any liens on the property, and disclosures about the seller's financial situation.
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