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Court File No. CV230069844700CLONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST) THE HONOURABLE) ) )JUSTICE KIMMELMONDAY, THE 29TH DAY OF MAY, 2023B E T W E E N: (Court Seal)CANADIAN WESTERN BANKApplicantand

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How to fill out brief sale approval and

01

Obtain the brief sale application form from your lender.

02

Fill in your personal information, including your name, address, and loan number.

03

Provide information about the property being sold, including its address and current market value.

04

Include details about your financial situation, such as income, expenses, and any hardships you are experiencing.

05

Gather supporting documents, such as pay stubs, bank statements, and tax returns.

06

Submit the completed application form and supporting documents to your lender.

07

Follow up with your lender to check on the status of your application.

Who needs brief sale approval and?

01

Homeowners who are facing financial difficulties and need to sell their property for less than what they owe on the mortgage.

02

Individuals seeking a more manageable solution to avoid foreclosure.

03

Real estate agents working on behalf of clients needing to navigate a brief sale.

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What is brief sale approval?

Brief sale approval refers to the process of obtaining consent from all relevant parties to finalize a sale transaction, particularly in real estate where the sale price is less than the amount owed on the property.

Who is required to file brief sale approval?

The seller of the property and their representatives, typically real estate agents, are required to file for brief sale approval to ensure all parties are informed and consent to the terms.

How to fill out brief sale approval?

To fill out a brief sale approval, sellers should provide property details, the sale price, loan information, and any financial hardship documentation along with any necessary forms set by lenders or governing bodies.

What is the purpose of brief sale approval?

The purpose of brief sale approval is to allow sellers to sell their property under market value with the lender's consent, helping them avoid foreclosure while ensuring lenders account for any losses.

What information must be reported on brief sale approval?

Information required includes property address, borrower details, lien amounts, sale price, and documentation proving financial hardship.

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