GENERAL ADDENDUM TO CONTRACT The following provisions are made part of the Contract for Sale and Purchase

or Residential Sale and Purchase Contract between ____________________________________________________ (“Seller”) and ____________________________________________________ (“Buyer”) concerning the property located at _____________________________________________________. 1. Lender(s) reserve the right to counter-offer at which time Buyer will have 48 hours to accept or the contract will become null and void. Buyer will receive a refund of its deposit if counter-offer is not accepted. A counter-offer will come in the form of a preliminary Closing Statement prepared by the chosen title company or, in some cases, directly from the Lender. Buyer and Seller understand and acknowledge that Best Beach Title, LLC will start the processing of the short-sale approval with ALL lienholders once the Escrow Deposit has been received. In the event that the short-sale is approved by all Lenders within the time-period established in the Short Sale Addendum to Purchase and Sale Contract and Buyer defaults under the terms specified in the Contract, Buyer will have been deemed to have forfeited its deposit and Buyer and Seller do hereby authorize Best Beach Title, LLC to retain the initial deposit in the amount of $1,500 as a NON-REFUNDABLE SHORT-SALE PROCESSING FEE. ( ) Buyer ( ) Seller will choose the title company and pay for the title insurance premium and related costs. The party selected above does hereby choose Best Beach Title, LLC to act as title, closing and Escrow Agent. CLOSING DATE: This transaction shall be closed within 25 days after written notification of Lender’s approval. Commission may change upon Lender’s approval of the Short-Sale. It is hereby agreed that total commission approved by the Lender will be split 50/50 between Listing and Selling Agents






________________________ ________ BUYER DATE ________________________ ________ BUYER DATE ________________________ ________ SELLER DATE ________________________ ________ SELLER DATE _____________________ LISTING AGENT _________ DATE _____________________ SELLING AGENT _________ DATE

Sign up to vote on this title
UsefulNot useful