Get Form 515 Short Sale Addendum To Purchase And Sale Agreement

The Form 515 Short Sale Addendum is a crucial document in the process of selling a property under a short sale agreement. This guide provides clear and supportive instructions on how to properly fill out this form online, ensuring a smoother transaction experience for all parties involved.

Follow the steps to complete the Form 515 Short Sale Addendum online

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Read through the Addendum carefully to understand the implications of the short sale. Make note of the condition stating that the sale is contingent upon the Seller obtaining approval from lienholders.
3. Fill in the Buyer and Seller information. This includes names and signatures of all parties involved in the transaction.
4. For the acknowledgment sections, provide details regarding the condition of the property and the understanding that the purchase price does not cover all debts. Ensure that the Buyer acknowledges their awareness of this through signatures.
5. Indicate the date by which the Seller must obtain lienholder approval. This is important for setting timelines in the short sale process.
6. In the section regarding Seller's obligations, confirm that the Seller understands their responsibilities to submit the necessary documents to lienholders promptly.
7. Complete the remaining sections of the form based on specific circumstances and terms agreed upon by Buyer and Seller.
8. After filling out the form, review all entries for accuracy. Make any necessary changes to ensure completeness.
9. Once satisfied with the details provided, you can save changes, download, print, or share the completed form as needed.

Complete your forms online to simplify your short sale process today.