Short Sale Contract Language

There are a number of short sale addendums that Florida Realtors may use; however, only one is approved by both the Florida Association of Realtors and the Florida Bar. It’s two pages and is titled G. Short Sale Approval Contingency.

The first section in contract addendum G. requires the shorting lender to fully release the seller from any claims for a deficiency or require them to bring any money or pay any costs at closing. This means the seller closes without any contribution whatsoever, or they can cancel the contract. I work with attorneys on the short sales they refer to me for their clients and this addendum of which I type is the only one they will allow ,and for good reason.