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SHORT SALE DISCLOSURE THIS FORM IS TO BE SIGNED AND SUBMITTED WITH YOUR OFFER DISCLOSURE NOTICE: This document is designed to set the correct expectations on the part of all parties. Offers will not
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How to fill out short sale addendum
How to Fill Out Short Sale Addendum:
01
Begin by carefully reading the short sale addendum form. Make sure you understand all the terms, conditions, and requirements mentioned in the document.
02
Provide your personal information accurately, including your name, address, contact information, and any other details required.
03
If you are representing a real estate agency, include the agency's name, contact information, and any additional information requested.
04
Pay attention to the property details section and ensure that all the necessary information, such as the property address, legal description, and parcel number, are correctly filled out.
05
Review all the financial sections of the addendum, which may include details about outstanding liens, unpaid property taxes, and any fees or charges associated with the short sale process. Complete these sections as required.
06
If there are any additional terms or conditions specific to the short sale agreement, make sure to read and understand them thoroughly. Include this information accurately in the addendum.
07
Once you have completed all the relevant sections, carefully review the addendum to ensure that there are no errors or missing information. Double-check all the filled-out fields for accuracy.
08
If required, sign the addendum and include the date of signing. If applicable, have any other involved parties sign the document as well.
09
Make copies of the completed addendum for your records and provide copies to all relevant parties, such as the buyer, seller, real estate agents, and lending institutions involved in the short sale process.
10
Keep a copy of the signed and completed addendum with the rest of the short sale documents for future reference.
Who Needs Short Sale Addendum:
01
Homeowners or property owners who are in financial distress and unable to pay their mortgage for their property.
02
Buyers interested in purchasing a property through a short sale process.
03
Real estate agents representing either the seller or the buyer in the short sale transaction.
04
Lenders or lending institutions involved in the short sale process to approve and oversee the transaction.
05
Title companies or attorneys who handle the legal aspects of the short sale and require the addendum as part of the documentation process.
06
Any other parties involved in the negotiation, approval, or closing stages of the short sale, based on the specific circumstances.
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What is short sale addendum?
Short sale addendum is a legal document that is added to a real estate sales contract to specify additional terms and conditions related to a short sale transaction.
Who is required to file short sale addendum?
The seller in a short sale transaction is typically required to file the short sale addendum.
How to fill out short sale addendum?
The short sale addendum can be filled out by including all relevant information related to the short sale transaction, such as purchase price, closing date, and any other specific terms and conditions.
What is the purpose of short sale addendum?
The purpose of a short sale addendum is to outline any additional terms and conditions that are specific to a short sale transaction, in order to protect both the buyer and the seller.
What information must be reported on short sale addendum?
The short sale addendum must include details such as the purchase price, closing date, any contingencies, and any other specific terms and conditions agreed upon by the buyer and the seller.
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