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Short Sale Addendums

Posted by Rochelle Castro on February 4, 2013 at 9:26am in Short Sale Discussions

Hi: 1. Broker Bryant posted an addendum sent to the buyer, before the sellers acceptance of the contract. I can't seem to find it anywhere. Can someone help?

2. Someone presented a cash offer on one of my listings? With the option to use private funding, in case his money is tied up, at the time the bank provides the approval. Is it considered cash, as long as he can close by the terms of the contract? Or is it better to take a higher conventional offer?

Thank you for your help!

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Replies

Wayne Brooks February 4, 2013 at 11:40am

As for #2: As long as buyer has POF (cash), and there is no Contingency for financing (and no inspection contingency After bank approval) with an adequate EM, it should be considered the same.
Trong Dang February 4, 2013 at 10:47am

Hello,

As for number 1. https://agentresources.bankofamerica.com/shortsale/process under short sale forms.

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