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BACKUP CONTRACT ADDENDUM NOTE: This Addendum should NOT be used in a short sale transaction. Use ONLY the Short Sale Addendum (form 2A14T) Property: ___ Seller: ___ Buyer: ___ This Addendum is attached
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How to fill out short sale addendum form

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How to fill out short sale addendum form

01
Obtain the short sale addendum form from the lender or real estate agent handling the transaction.
02
Fill in the property address, seller's name, and buyer's name on the form.
03
Specify the terms of the short sale, including the sale price and any contingencies.
04
Have all parties involved in the transaction sign and date the form.
05
Submit the completed short sale addendum form to the lender for approval.

Who needs short sale addendum form?

01
Homeowners who are looking to sell their property through a short sale process.
02
Buyers who are interested in purchasing a property through a short sale.
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A short sale addendum form is a legal document used in real estate transactions to specify the terms and conditions related to a short sale, allowing sellers to sell their property for less than the amount owed on the mortgage.
Typically, the seller and the buyer, along with their respective real estate agents, are required to complete and file the short sale addendum form in order to formalize the short sale process.
To fill out a short sale addendum form, both parties should provide accurate information regarding the property, the outstanding mortgage amount, the proposed sale price, and any other pertinent details required by the lender.
The purpose of the short sale addendum form is to outline the agreement between the parties involved in a short sale, ensuring that all conditions are met and that the lender approves the sale.
Essential information that must be reported includes the property address, the seller's mortgage details, the proposed sale price, any outstanding liens, and the agreement from the lender.
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