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A short sale generally occurs when the Seller s net sale proceeds after payment of customary closing costs from the sale of

A short sale generally occurs when the Seller s net sale proceeds after payment of customary closing costs from the sale of 2025

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The document is a Short Sale Addendum to the Exclusive Right of Sale Listing Agreement, outlining the terms and conditions under which a seller can market their property as a short sale. It details the seller's authorization for the broker to engage with lenders, provide necessary documentation, and market the property until lender approval is obtained. The addendum also addresses potential outcomes, including no net proceeds for the seller at closing, possible deficiency judgments, and tax implications. It advises sellers to consider other options and consult with legal and financial professionals.

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How does a short sale happen?

In a short sale, the homeowner will submit a financial package seeking a lenders approval to sell the property for less than the amount they owe on it. Therefore, the homeowner enters into this process voluntarily, which isnt the case with a foreclosure.

What are the proceeds from a short sale?

Definition: The cash received from the short sale of a security. The interest return from investment of the short proceeds is usually divided between the short seller, who gets partial use of proceeds, and the securities lender.

What are sellers net proceeds in the Trec short sale addendum?

As used in this Addendum, Sellers net proceeds means the Sales Price less Sellers Expenses under Paragraph 12 of the contract and Sellers obligation to pay any brokerage fees.

How to calculate net proceeds from a short sale?

To calculate the return on a short sale, first determine the difference between the sale proceeds and the cost associated with selling off the position. Next, divide this value by the initial proceeds from the sale of the borrowed shares.

What are seller net proceeds?

Key Takeaways Net proceeds are the amount the seller takes home after selling an asset, minus all costs and expenses that have been deducted from the gross proceeds. The amount that constitutes the net proceeds could be marginal or substantial, depending on the asset that has been sold.

What are the proceeds of the short sale?

While a seller typically pays all real estate agent commissions and other closing costs, in a short sale the seller pays nothing; the lender or bank foots the bill.

A short sale generally occurs when the Seller s net sale proceeds after payment of customary closing costs from the sale of 2025

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