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Short Sale Intent Disclosure Short Sale Intent Acknowledgment Disclosure Form
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People also ask
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Is a short sale bad for the buyer?
Is a short sale good or bad for buyers? Short sales can provide an opportunity for buyers to purchase a home at a bargain price. However, the approval process with the seller's mortgage lender can be complicated, and the home might need considerable repair work.
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What's the purpose of the Trec approved short sale addendum?
A document that confirms that the property is being sold as a short sale. It must be clear that another party is also overseeing the transaction (the lender). A declaration that the addendum is only binding once the third party has accepted the terms of the agreement.
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Why would a lender agree to a short sale?
Why would a lender agree to a short sale? Not only are most lenders agreeing to a reasonable short sale offerings, they are encouraging their defaulting buyers to consider and/or pursue a short sale. They agree to the short sale so they do not have to foreclose on the property.
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What is the SEC rule for short sales?
The Uptick Rule (also known as the "plus tick rule") is a rule established by the Securities and Exchange Commission (SEC) that requires short sales to be conducted at a higher price than the previous trade. Investors engage in short sales when they expect a securities price to fall.
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