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  • Ct Short Sale Addendum Fill In Form

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BUYER(S): This Addendum is attached to and made part of a certain real estate contract (hereinafter the Contract ) between the above captioned Parties for the property commonly known as (Address, City, Zip Code) , and the Parties agree as follows: 1.

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How to fill out the Ct Short Sale Addendum Fill In Form online

Completing the Ct Short Sale Addendum Fill In Form is an essential step in facilitating a short sale real estate transaction. This guide will provide you with clear, step-by-step instructions to assist you in filling out the form accurately and efficiently.

Follow the steps to complete the form correctly

  1. Click the ‘Get Form’ button to obtain the form and open it in the editor.
  2. Begin by filling in the names of the Seller(s) and Buyer(s) in the designated fields. Ensure that all names are spelled correctly and completely.
  3. Provide the address of the property in the specified section, including the street address, city, and zip code.
  4. Review the Conflict of Terms section to understand that this Addendum's terms will prevail in case of any inconsistencies with the main Contract.
  5. Fill out the Short Sale Payoffs section, ensuring that you understand the necessity of lienholder approvals and the responsibilities of both parties.
  6. In the Extension of Closing Date section, note any agreements regarding the extension due to pending approvals.
  7. Review and complete the Termination Option clause while being mindful of the timeline specified for negotiations.
  8. Acknowledge the right for the Seller to continue offering the property for sale by filling in the necessary terms related to this right in the specified field.
  9. Complete the ‘As Is’ Condition clause, understanding the implications regarding repairs and inspections conducted by the Buyer.
  10. Finally, both Buyer(s) and Seller(s) should sign and date the Addendum at the bottom, ensuring all blanks are filled correctly.
  11. Once all sections are complete, you can save changes, download, print, or share the form as needed.

Start filling out your documents online today to streamline your real estate transactions.

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A short sale addendum is intended for a seller of real estate that owes more money on the property than it's worth.

A short sale is a pre-foreclosure residential real estate transaction where the owner of the mortgage loan, the lender or lien holder (hereinafter sometimes "Lender"), agrees to (i) allow the home owner to sell his or her property for less than -- or "short" of -- the outstanding amount owed on the mortgage loan, and ...

An addendum is used to clarify and add things that were not initially part of the original contract or agreement. Think of addendums as additions to the original agreement (for example, adding a deadline where none existed in the original version).

The lender controls contract acceptance as well as the sale's terms and conditions. Lenders may consent to a short sale but then refuse an offer as insufficient if they disapprove of the price.

This means that the buyer and seller must wait 45 days from the time that they sign the short-sale contract to get the sale price approved by the mortgage lender. If this approval does not come within the 45-day period, the buyer or seller is free to terminate the short sale contract.

“A short sale is when a mortgage lender agrees to accept a mortgage payoff amount less than what is owed in order to facilitate a sale of the property by a financially distressed owner. The lender forgives the remaining balance of the loan.”

A short sale (Short Sale) is a transaction in which a Lienholder releases its Lien against Property and (1) accepts an amount less than the full amount a Lienholder claims is owed or (2) treats the debt secured by a Lien differently than as originally provided for in the evidence of debt (such as a promissory note).

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.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232