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ME Short Sale Addendum free printable template

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MAINE SHORT SALE ADDENDUM I. The Parties. This Short Sale Addendum (Addendum) is to be made part of the Purchase Agreement dated, 20 (Agreement) made between (Seller) and (Buyer) for the property
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How to fill out ME Short Sale Addendum

01
Obtain a copy of the ME Short Sale Addendum form.
02
Read the instructions provided on the form carefully.
03
Fill in the property address, including city and zip code.
04
Enter the seller's name(s) as they appear on the title.
05
Provide the buyer's name(s) and contact information.
06
Specify the terms of the sale, including the purchase price.
07
Disclose any existing liens or mortgages on the property.
08
Include details regarding any additional agreements or stipulations.
09
Review the addendum for accuracy and completeness.
10
Have all parties involved sign and date the document.

Who needs ME Short Sale Addendum?

01
Homeowners who are seeking to sell their property as a short sale.
02
Real estate professionals assisting clients in short sale transactions.
03
Lenders reviewing short sale offers.
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The ME Short Sale Addendum is a legal document used in real estate transactions in Maine that outlines the terms and conditions of a short sale, where a property is sold for less than the amount owed on the mortgage.
The seller of the property and their real estate agent are typically required to file the ME Short Sale Addendum as part of the contract process when engaging in a short sale.
To fill out the ME Short Sale Addendum, the seller should provide details such as property information, the amount owed on the mortgage, the selling price, and conditions under which the short sale is being conducted, along with signatures from all parties involved.
The purpose of the ME Short Sale Addendum is to provide clarity and transparency regarding the short sale transaction, ensuring all parties understand their rights, obligations, and the terms agreed upon during the sale.
The information that must be reported on the ME Short Sale Addendum includes the property's address, the current mortgage balance, the proposed sale price, as well as any other liens or encumbrances on the property.
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