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MS Short Sale Addendum free printable template

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MISSISSIPPI 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 MS Short Sale Addendum

01
Begin by obtaining the MS Short Sale Addendum from your real estate agent or online.
02
Fill in the property address at the top of the document.
03
Insert the names of the sellers and the buyers in the respective fields.
04
Review and fill in the sale price that has been agreed upon.
05
Specify any contingency clauses that may apply to the sale.
06
Include the lender's name and contact information.
07
Ensure all parties involved have the opportunity to review the addendum.
08
Have all parties sign and date the document to enforce its validity.

Who needs MS Short Sale Addendum?

01
Homeowners who are selling their property through a short sale.
02
Buyers interested in purchasing a property under a short sale agreement.
03
Real estate agents representing sellers or buyers in short sale transactions.
04
Lenders who are evaluating short sale offers.
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The MS Short Sale Addendum is a legal document used in real estate transactions to outline the terms and conditions related to a short sale. It provides specific details that clarify the agreement between the seller and the lender regarding the sale of a property that is being sold for less than the amount owed on the mortgage.
The seller of the property and the lender involved in the short sale are typically required to file the MS Short Sale Addendum. It is a necessary component of the short sale process to ensure all parties are aware of the terms.
To fill out the MS Short Sale Addendum, parties should provide all relevant information including property details, the amount owed, the sale price, and any specific conditions that may apply. It is essential to ensure that all parties review and agree to the terms before signing.
The purpose of the MS Short Sale Addendum is to formally document the conditions and agreements necessary for proceeding with a short sale. It establishes the terms under which the lender agrees to accept the lower sale price and outlines the rights and responsibilities of all parties involved.
The MS Short Sale Addendum must report information such as the property address, seller information, mortgage details, proposed sale price, lender approval status, and any contingencies related to the sale.
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