Get (for Use In Montgomery County And Washington

The Short Sale Addendum to Sales Contract is a crucial document for both buyers and sellers in Montgomery County and Washington, DC, providing necessary terms for executing a short sale. This guide will help you navigate the form easily and ensure you complete it correctly.

Follow the steps to fill out the Short Sale Addendum to Sales Contract.

1. Click ‘Get Form’ button to obtain the form and open it in an online editor.
2. Begin by filling in the Contract of Sale details, including the date, city, address, state, and zip code for both the seller and buyer.
3. In the definition section, understand that a short sale is when the seller's net proceeds are insufficient to pay off the liens. This section clarifies the necessity of obtaining written approvals from creditors.
4. Complete the Short Sale Contingency section by indicating the deadline for the seller to obtain and deliver written approvals to the buyer. Include the specific date that constitutes the deadline.
5. Specify other contingencies related to the contract. Here, you will define the conditions under which these contingencies begin.
6. Fill out the settlement date section, indicating how many days after the notice of written approvals the settlement will take place.
7. In the acknowledgments and agreements section, ensure that you clearly understand and accept each clause regarding responsibilities and implications involved in a short sale.
8. Once all sections are completed, review the entire form for accuracy. Save any changes made, and prepare the document for download or printing for your records.

Complete your Short Sale Addendum online today to ensure a smooth transaction process.