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A purchase agreement amendment is a legal document that changes the terms and conditions of an existing purchase agreement. It becomes binding after the buyer and seller have signed and should be attached to the original agreement.
A short sale is a transaction in which the lender, or lenders, agree to accept less than the mortgage amount owed by the current homeowner. In some cases, the difference is forgiven by the lender, and in others the homeowner must make arrangements with the lender to settle the remainder of the debt.
A short sale in real estate is an offer of a property at an asking price that is less than the amount due on the current owners mortgage. A short sale is usually a sign of a financially distressed homeowner who needs to sell the property before the lender seizes it in foreclosure.
Short Sale Addendum to Agreement of Sale (Form SHS) conveys any changes in terms or conditions that will apply to the Agreement of Sale in light of the transaction being a short sale.
In a short sale, the buyer is purchasing a home from the original owner, who will then repay their mortgage lender. The lender accepts that it wont recover the full amount of its debt.

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The addendum should detail all the terms different from the original purchase agreement: changes, alterations, deletions, and additions the document is making to the original contract. Furthermore, the addendum should reference the specific section or provision number in the contract affected by the change.
A purchase agreement addendum, or amendment, is added to a real estate purchase agreement to expand or amend the agreements terms and conditions. The addendum must be signed by both buyer and seller to become in effect. After signing, the addendum should be attached to the original purchase agreement.
If youre experiencing financial difficulties, a short sale might be an appealing option. But when going through this process, you must have all the correct documentation. In other words, you need a short sale addendum. A short sale addendum ensures that all short sale details are included within the sales agreement.

Related links

Regulation Sections 8 10 - Arkansas Real Estate Commission

Licensees shall not buy, sell, rent or lease property for themselves or for a corporation, partnership or association in which they have an inter- est without

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017.00.08 Ark. Code R. 001 - Minimum Standards and Criteria

STATE OF ARKANSAS LEASE AGREEMENT BETWEEN STATE AGENCIES (F) Guidelines regarding the sale and purchase of properties are available by contacting the Real

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Free Purchase Agreement Addendums Disclosures (10) - PDF

AN acquisition agreement addendum, or amendment, is added to a real estate purchasing agreement to expand or amend to agreements terms and conditions. One

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