The Short Sale Addendum is essential in real estate transactions where the sale price won't cover the outstanding mortgage balance. This document, commonly used throughout the United States, supplements the primary purchase agreement by addressing specific requirements and contingencies unique to short sales. It typically includes provisions for lender approval, extended timelines, modified closing conditions, and special termination rights. The addendum helps protect all parties' interests while acknowledging the complexity and uncertainty inherent in short sale transactions.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc
1. Parties: Identification of buyer, seller, and current lender(s)
2. Background: Context of the short sale situation and property details
3. Definitions: Key terms used throughout the addendum
4. Lender Approval Contingency: Terms stating the agreement is contingent on lender approval of the short sale
5. Timeline: Expected timeframes for lender response and closing
6. Purchase Price: Agreed purchase price subject to lender approval
1. Commission Modifications: Terms regarding potential commission reductions, used when lender requires commission adjustments
2. Multiple Lender Provisions: Additional terms for cases involving multiple lenders or mortgages on the property
3. Buyer's Right to Terminate: Specific conditions under which buyer can terminate due to extended waiting periods
1. Property Information Schedule: Detailed property description and condition disclosure
2. Lender Documentation Requirements: List of required documents for short sale submission
3. Timeline Schedule: Detailed timeline of key dates and deadlines
Relevant legal definitions
Short Sale
Purchase Price
Lender Approval
Effective Date
Property
Seller's Lender
Short Sale Package
Closing Date
Approval Period
Earnest Money
Purchase Agreement
Contingency Period
Default
Extension Period
Third-Party Approvals
Junior Lienholder
Senior Lienholder
Net Proceeds
Deficiency Balance
Settlement Statement
Termination Notice
Response Period
Material Change
Approval Letter
Release of Liability
Purchase Price
Lender Approval
Effective Date
Property
Seller's Lender
Short Sale Package
Closing Date
Approval Period
Earnest Money
Purchase Agreement
Contingency Period
Default
Extension Period
Third-Party Approvals
Junior Lienholder
Senior Lienholder
Net Proceeds
Deficiency Balance
Settlement Statement
Termination Notice
Response Period
Material Change
Approval Letter
Release of Liability
Clauses
Lender Approval
Contingency
Time Periods
Property Condition
Purchase Price
Seller Cooperation
Buyer Acknowledgment
Default and Remedies
Termination Rights
Commission Adjustments
Closing Conditions
Multiple Lender Provisions
Liability Release
Documentation Requirements
Notice Requirements
Extension Rights
Third-Party Approvals
Representations and Warranties
Modification
Assignment
Good Faith
Earnest Money
Closing Costs
Survival
Contingency
Time Periods
Property Condition
Purchase Price
Seller Cooperation
Buyer Acknowledgment
Default and Remedies
Termination Rights
Commission Adjustments
Closing Conditions
Multiple Lender Provisions
Liability Release
Documentation Requirements
Notice Requirements
Extension Rights
Third-Party Approvals
Representations and Warranties
Modification
Assignment
Good Faith
Earnest Money
Closing Costs
Survival
Relevant Industries
Relevant Teams
Relevant Roles
Find the exact document you need
Separation Agreement Addendum
A legal document under English and Welsh law used to modify an existing separation agreement between separating spouses or civil partners.
find out more
Rental Contract Amendment
An English and Welsh law template for modifying existing rental agreements while preserving other original terms.
find out more
Amendment Agreement
A template for modifying existing contracts under English and Welsh law, ensuring legally binding amendments to original agreements.
find out more
Sales Contract Addendum
A legal template under English and Welsh law for modifying existing sales contracts through formal addenda.
find out more
Construction Contract Addendum
A template for modifying existing construction contracts under English and Welsh law, documenting changes to scope, timeline, or costs.
find out more
Letter To Continue Employment Contract
An England & Wales document extending an employment contract, detailing any changes, and requiring mutual acknowledgment.
find out more
Buyer Name Change Addendum
An England & Wales document delegating company authority for specific operational and legal actions.
find out more
Change In Lease Terms Addendum To Residential Lease
A legal document under English and Welsh law used to modify specific terms of an existing residential lease while keeping other original terms intact.
find out more
First Addendum To Agreement
A legal document under English and Welsh law that modifies or amends an existing agreement between parties.
find out more
Tenant Occupied Property Addendum To Agreement Of Sale
A U.S.-governed addendum to a property sale agreement specifically addressing the transfer of tenant-occupied property and associated obligations.
find out more
Short Term Lease Addendum
A U.S. legal document that modifies an existing lease agreement for a short-term period, subject to federal, state, and local rental regulations.
find out more
Short Sale Addendum
A U.S. legal document that modifies a purchase agreement to accommodate short sale terms and lender approval requirements.
find out more
Seller Financing Addendum
A U.S. legal document establishing terms when a property seller provides financing to the buyer.
find out more
Roommate Addendum To Lease Rental Agreement
A U.S. legal document that formally adds new roommates to an existing lease agreement while defining shared responsibilities and obligations.
find out more
Real Estate Amendment Form
A U.S. legal document used to modify existing real estate contracts while maintaining compliance with federal and state regulations.
find out more
Real Estate Addendum
A U.S. legal document that modifies or amends an existing real estate contract while maintaining compliance with federal and state property laws.
find out more
Price Reduction Addendum To The Listing Agreement
A U.S. legal document that modifies the listing price in an existing real estate listing agreement.
find out more
Post Settlement Possession Addendum To Agreement Of Sale
A U.S. legal document that permits sellers to temporarily occupy property after closing, specifying terms and conditions of post-settlement possession.
find out more
Pool Addendum For Rental Agreement
A U.S. legal document supplementing a rental agreement that establishes rules and responsibilities for pool usage and maintenance.
find out more
Pet Lease Agreement
A U.S.-compliant legal agreement governing the temporary transfer of pet care responsibilities between owner and caretaker.
find out more
Personal Property Addendum To Real Estate Contract
A U.S. legal document that specifies personal property items included in a real estate sale.
find out more
Name Change Addendum To Real Estate Contract
A U.S. legal document that modifies an existing real estate contract to reflect a party's legal name change while maintaining all other original contract terms.
find out more
Addendum To Land Contract
A U.S. legal document that modifies an existing land contract while maintaining its core provisions.
find out more
Addendum To Independent Contractor Agreement
A U.S. legal document that modifies an existing independent contractor agreement while maintaining compliance with federal and state contractor laws.
find out more
Addendum To Employment Agreement
A U.S.-governed legal document that modifies specific terms of an existing employment agreement while maintaining other original terms.
find out more
Addendum To Deed Of Sale
A U.S. legal document that modifies or amends an existing deed of sale, subject to state property laws.
find out more
Addendum To Change Purchase Price
A U.S. legal document that modifies the purchase price in an existing purchase agreement while maintaining all other original terms.
find out more
Addendum To Change Name On Contract
A U.S. legal document that modifies an existing contract to reflect a party's name change while maintaining all other original contract terms.
find out more
Addendum To Buy Sell Agreement
A U.S. legal document that modifies an existing Buy-Sell Agreement while maintaining other original terms.
find out more
Addendum To Add Tenant To Lease
A U.S. legal document that formally adds a new tenant to an existing lease agreement while maintaining original lease terms.
find out more
Addendum To Add Buyer To Contract
A U.S. legal document that formally adds a new buyer to an existing contract while maintaining original terms and conditions.
find out more
Addendum Loan Agreement
A U.S. legal document that modifies terms of an existing loan agreement while maintaining compliance with federal and state lending regulations.
find out more
Commercial Lease Extension Addendum
A U.S. legal document that extends the term of an existing commercial lease agreement while maintaining or modifying other lease terms.
find out more
Commercial Lease Amendment
A U.S. legal document that modifies terms of an existing commercial lease agreement while maintaining other original provisions.
find out more
Commercial Lease Addendum For Extension Of Term
A U.S. legal document that extends the term of an existing commercial lease agreement while maintaining or modifying original lease conditions.
find out more
Co Signer Addendum Rental Agreement
A U.S. legal document that adds a guarantor to a rental agreement, making them jointly responsible for the tenant's financial obligations.
find out more
Closing Date Extension Addendum
A U.S. legal document that modifies and extends the closing date in an existing purchase agreement while maintaining other original terms.
find out more
Appraisal Contingency Addendum
A U.S. legal document that makes a real estate purchase contingent upon the property appraising at or above the agreed purchase price.
find out more
Amendment To Add Buyer To Contract
A U.S.-governed amendment that adds a new buyer to an existing contract while maintaining original terms.
find out more
Addendum To Service Agreement
A U.S.-governed legal document that modifies or supplements an existing service agreement while maintaining other original terms.
find out more
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)
.png)