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Get the free Short Sale Addendum To The Contract of Sale of Real Estate

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Greater Tulsa Association of REALTORS GTAR Short Sale Addendum To The Contract of Sale of Real Estate This Addendum is attached to and made a part of the Contract of Sale of Real Estate (\"Contract\"),
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How to fill out short sale addendum to

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How to fill out short sale addendum to

01
Begin by obtaining the short sale addendum form from your real estate agent or online.
02
Fill in the details of the property, including the address and legal description.
03
Provide information about the seller, including their name and contact information.
04
Include the buyer's details as well, making sure to fill out their name and contact information.
05
Clearly state the terms of the short sale, including the purchase price and any contingencies.
06
Specify any required approvals or disclosures, such as lender approval for the short sale.
07
Sign and date the addendum where indicated.
08
Submit the completed addendum to all parties involved, including lenders and real estate agents.

Who needs short sale addendum to?

01
Homeowners facing financial hardship who need to sell their property for less than the mortgage balance.
02
Buyers interested in purchasing a home through a short sale.
03
Real estate agents representing homeowners or buyers engaged in a short sale.
04
Lenders or banks managing the short sale process and reviewing the addendum.
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A short sale addendum is a legal document that outlines the conditions of a short sale transaction, including any stipulations required by the lender.
The seller of the property and their real estate agent are typically required to file the short sale addendum to, along with the buyer's agreement.
To fill out a short sale addendum, you need to provide detailed information about the property, the parties involved, and any specific terms agreed upon, ensuring all parties sign the document.
The purpose of the short sale addendum is to clarify the terms of the short sale and to protect the interests of all parties involved, particularly the lender.
The short sale addendum must report information such as property details, sale price, outstanding mortgage amounts, and any conditions required by the lender.
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