CREC approves Short Sale Addendum and Seller Authorization forms

At the February meeting of the Colorado Real Estate Commission, two new forms were approved dealing with short sales. The Short Sale Addendum, designed to be added to a transaction file whenever a short sale is involved, and the Seller Authorization form. The authorization form should be used at the time of listing to allow the lien holder to supply loan information to specific people involved in the transaction. The Short Sale Addendum is to be used with the Contract to Buy and Sell, and will allow various parties access to information and place certain filing deadline obligations on the seller.

>>>Click Here to view the Seller Authorization form

>>>Click Here to view the Short Sale Addendum

Both of these new forms are Mandatory for use in Colorado beginning March 31, 2008. VanEd has added both of these new forms to our Colorado Residential Contracts continuing education course. That course is available online at www.vaned.com.