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Click ‘Get Form’ to open the Short Sale Addendum in the editor.
Begin by entering the date of the original Contract for the Purchase and Sale of Real Estate at the top of the form. This establishes the context for your addendum.
Fill in the names of both Buyer and Seller, ensuring accuracy as these parties are crucial to the agreement.
Provide the complete address of the Property involved in this transaction, including street, city, county, state, and zip code.
In Section 1, acknowledge that the Purchase Price is less than what is owed to Third Parties. List any relevant entities that may have an interest in the Property.
For Section 2, ensure you understand that Third Party approval is necessary. Note any deadlines for submission of documents required for their review.
Complete Sections 3 through 8 by carefully reading each condition regarding binding contracts and rights to cancel or accept offers. Make sure all parties are aware of their rights and obligations.
Finally, have both Buyer and Seller sign and date at the bottom of the form to finalize your addendum.
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Standard Contract Form TREC No. 45-2, Short Sale Addendum
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