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A standard short sale addendum generally addresses a number of items that are specific and unique to the agreement of sale. These may include: An acknowledgement that the transaction is a short sale, and that as such there are additional third parties that have an interest in the property being sold.
A standard short sale addendum generally addresses a number of items that are specific and unique to the agreement of sale. These may include: An acknowledgement that the transaction is a short sale, and that as such there are additional third parties that have an interest in the property being sold.
A purchase agreement addendum, or \u201camendment,\u201d is added to a real estate purchase agreement to expand or amend the agreement's terms and conditions. The addendum must be signed by both buyer and seller to become in effect.
Here's an overview on buying a short sale home: The lender must agree. First, the lender must agree to the short sale. ... The seller must prove they have no other option. The seller needs to show some sort of hardship. ... A home's price must be in line with market value. ... Short sales need to be disclosed.
1. Buyer contingencies addenda. Buyer contingencies are the most common addenda, according to Justin Ostow, a top real estate agent in Tampa, Florida, who completes 10% more sales than the average agent. Contingencies dictate certain conditions which must be met for the contract to go through.

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0:00 0:38 Short Sale Addendum - YouTube YouTube Start of suggested clip End of suggested clip Usually sets out the number of days that the seller will have to convince the lender to provideMoreUsually sets out the number of days that the seller will have to convince the lender to provide written consent.

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