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Vermont Short Sale Addendum to Purchase Agreement Form

Vermont Short Sale Addendum to Purchase Agreement Form

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foreign hi I'm Annie Fitzsimmons I'm your Washington Realtors Legal Hotline lawyer and in this video I want to remind you as to who can engage in short sale negotiations what is a short sale negotiation we have a seller who is going to sell their property but they owe more than the sale proceeds will generate they owe more secured by title to the property than their cell proceeds will generate so it could be that their mortgage is more than the sale price or it could be that they have a mortgage a first mortgage and a second mortgage child support liens contractor liens a judgment lien other stuff recorded against title to their property when you look at everything that's recorded against tile to the property paying off all of that debt or all of that monetary encumbrance will require more than the cash proceeds a seller will get from closing if seller is in the oh I'm sorry and also their their closing costs of course because seller also has to be able

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