Short Sale Forms
Standard Forms for Short Sale Transactions
The MLS and Standard Forms Committees developed these forms that REALTORS® will need when working on a short sale transaction. These forms were created to help, not hinder, the short sale process. The forms are available in the Columbus REALTORS® Member Service Center and via Online Forms. (November 2013)
Understanding Short Sales - This two-page form contains general information about short sales, and provides an important, convenient way for sellers' and buyers' agents to document that they have advised a party to seek financial or legal counsel. While not mandatory, use of this form is strongly recommended.
Seller's Authorization for Release of Information - When signed by the seller, this form authorizes the lender or other lien holders to release otherwise confidential information to the REALTOR® and other persons designated on the form. This one-page form should be considered mandatory, to be used by the listing agent.
Short Sale Addendum to the Listing Agreement - When signed by the seller, this one-page form obtains the permission of the seller to disclose in the MLS that the property is subject to short sale. It should be completed by the listing agent before entering any short sale disclosure remarks in the MLS.
Short Sale Addendum to the Residential Purchase Contract - This two-page form is an important step in the purchase contract writing process. When signed by both seller and buyer, each acknowledges the property's status as a short sale and time period issues. The form also establishes a path of duties for the seller to pursue lender approval and notify the buyer of progress.
Notice of Short Sale Termination - This one-page form, when signed by buyer and delivered to seller, terminates the contract if the time period for receiving Notice of Short Sale Agreement between Seller and Seller's Lender is not met.