Things to look out for in printable Short Sale Stipulations Form
A short sale is a transaction wherein an investor sells borrowed securities anticipating a fall in prices & commits to returning an equal number of shares at a specified time in a future date. The trader takes the position & accumulates fund when the prices go down; the same seller makes money taking a long position when the prices go up.
Does short sale exist in real estate market?
Real estate market is indulged in the short & long concept to ensure inflow of fund. A short sale in real estate implies selling off property for less than the mortgaged price of course with the approval of the lender. This appears to be a little tricky situation as the lender will not settle for anything less than the mortgaged price.
What are the things to look out for in printable short sale stipulations form?
- To draft a short sale stipulations form, an experienced professional lawyer has to be hired
- The lawyer is conversant with the legal loopholes & can assist a civilian draft a water tight contract immune to legal nitty-gritty’s
- Make sure to add short sale stipulations clause in the contract
- Both parties will draw up the contract with the help of in-house lawyers hence a thorough checking is must to see if the draft is fair & ethical to both parties
- Seller perceives the buyer to retain the short sale from seller’s lender
- If the lender does not agree to the short sale of the property, the latter will get into foreclosure
- The property is bought & sold ‘AS IS’ with no termination letter
If these things to look out for in printable short sale stipulations form are satisfied, a civilian can exercise the contract post seeking the approval from the lender.