Wells Fargo Assignability Clause Addendum - Here's what they want!

SEE Below for update. 

3/30/12 - Wells states that the listing addendum (the one on this site) is no longer valid and cannot be used, but, of course, in all their wisdom haven't sent me a new one.  Anyone else have it or know where I can get it? 

Also, asking for an 'Assignability Clause Addendum' which they haven't sent me either, but non-assignability is already stated on Wells Purchase Contract Addendum on line 4?  Anyone have that one too? 

Thanks.

UPDATE: 9/14/12 - RE: Assignability Clause Addendum - Even though it's on their forms already - they want you to have seller/buyer sign an addendum that YOU create (they don't actually have an formal addendum for this). Here's what I was finally told it had to say after asking quite a few times:

"Buyer and Seller agree that under no circumstances will this purchase agreement contract be assignable or transferrable."

 

That's it! - They haven't realized yet that we can't read their minds and that when they ask us to get a specific addendum signed, they should provide it and/or tell us what it has to say ; ))))

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Replies to This Discussion

Permalink Reply by Kim Eisen on April 2, 2012 at 1:30pm

Response from Wells - for new Wells Listing Addendum - I have to provide the addendum? But they are not accepting the one that's on this forum - where to look?

Permalink Reply by Beth Walsh on April 3, 2012 at 12:25pm

I found this one online. not sure what the publish date is on it.Wells Fargo Listing Addendum

 

It was on a group called Short Sale Specialist Network   http://www.theshortsaleguide.com/group/wellsfargo

 

Hope it works.

Permalink Reply by Kim Eisen on April 3, 2012 at 12:59pm

Thanks Beth - yet not knowing 'when' it was created cause a dilemma. 

BTW - I was told I would have to provide the addendum.  I asked them if they didn't have an addendum, what would they want me to 'say' on the listing addendum.  I received an email back to just put the 'cancellation clause' from the old addendum onto the listing agreement and have it initialed.

Permalink Reply by Beth Walsh on April 4, 2012 at 7:09am

Hi Kim, I checked 6-7 other sites and all seem to be using the one I attached. Today I had a B of A rep tell me to keep the property active for 120 days even though we have an accepted offer. I explained our MLS requires all properties to be moved to a back up status once a offer is accepted and she nearly short circuited on the phone. I explained that back up is still considered an active status. The maximum fine for failure to follow MLS rules in California is $15,000. If  the bank is willing to sign a letter stating they will accept responsibility for the fines if they occur I will proceed as directed.

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