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REAL ESTATE INFORMATION NETWORK, INC. SHORT SALE CONTINGENCY ADDENDUM TO STANDARD PURCHASE AGREEMENT THIS SHORT SALE CONTINGENCY ADDENDUM (“Addendum “) forms an integral part of the Purchase Agreement
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How to fill out short sale contingency addendum

01
Start by accessing the short sale contingency addendum form from a reliable source.
02
Provide the necessary details of the buyer, seller, property address, and any other relevant information at the top of the form.
03
Clearly state the contingencies that need to be included in the addendum, such as the buyer's ability to obtain financing or the seller's ability to secure short sale approval from the lender.
04
Specify the timelines and deadlines associated with each contingency, ensuring they are realistic and feasible.
05
Include any additional terms or conditions that both parties agree to, such as the requirement for a home inspection or the acceptance of certain repairs.
06
Carefully review the completed addendum to ensure accuracy and clarity.
07
Have both the buyer and seller sign and date the addendum to indicate their agreement.
08
Make copies of the signed addendum for both parties to keep for their records.
09
Submit the original signed addendum to the appropriate parties, such as the real estate agent, attorney, or escrow officer, as required in the transaction.
10
Retain a copy of the addendum in your own files for future reference or potential legal purposes.

Who needs short sale contingency addendum?

01
The short sale contingency addendum is typically needed by buyers and sellers involved in real estate transactions where the seller is attempting to sell the property for less than the outstanding mortgage balance.
02
Buyers who are interested in purchasing a property through a short sale often require a short sale contingency addendum to protect their interests in case the seller fails to obtain short sale approval or if their financing falls through.
03
Sellers who are attempting to sell their property through a short sale may also need a short sale contingency addendum to outline the conditions that must be met for the sale to proceed.
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The short sale contingency addendum is a document that is added to a real estate purchase agreement when the buyer and seller agree to terms specific to a short sale transaction.
The buyer and seller involved in a short sale transaction are required to file the short sale contingency addendum.
The short sale contingency addendum can be filled out by including the agreed-upon terms and conditions related to the short sale transaction.
The purpose of the short sale contingency addendum is to outline the specific terms and conditions of a short sale transaction which are not part of the standard purchase agreement.
The short sale contingency addendum must report details such as the agreed-upon sale price, any seller concessions, buyer financing terms, and other specific conditions related to a short sale.
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