OUR NON REFUNDABLE LANGUAGE
Strike any date on line 16. Buyer and Seller acknowledge that the short sale process can be lengthy. It may
take as many as 120 days from contract acceptance to receive the approvals from Seller's lender(s).
Strike lines 13, 14, and 41 of the Short Sale Addendum. Within 2 days of Buyer signing the Short Sale counter
offer and Addendum #1, Buyer shall deposit $1000 earnest money. This earnest deposit shall be non-
refundable within the first 120 days of this executed addendum or until an Agreement Notice is received from
the lender, whichever happens first. Should the buyer elect to cancel during this time frame for any reason prior
to the Agreement Notice being issued, earnest money shall be forfeited and escrow will be canceled. If 120
days from buyer’s signature on Addendum #1 an Agreement Notice has not been issued by the Lender(s) the
earnest money shall then become refundable to buyer. Upon an acceptable Agreement Notice by all parties,
any cancellation and return of earnest money shall be accordance with the terms of the purchase contract.
Property shall be placed into temporarily off the market status. Any offers received by Seller during this non-
refundable 120 day period, shall be held by the listing agent and not presented to the lender until expiration of
this period or the buyer cancels - whichever occurs first.
Upon receiving an Agreement Notice acceptable to both buyer and seller, seller shall issue an Addendum #2
which shall confirm the parties’ intention to proceed, establish the date of contract for purposes of contract
timeframes, and reflect any change in terms dictated by the lender.
After delivery to Buyer of an acceptable Agreement Notice from the lender(s) and Seller vacating the property,
Buyer shall have utilities turned on at their expense. Seller relieves Buyer as well as Listing and Seller
Brokerage firms from any liability connected with same.
Any language related to costs being paid by “Seller” shall hereby be understood to read “Seller’s lender”.
If this property is governed by a HOA, in the event the lender will not pay for the HOA transfer or disclosure
package, or the HOA management company requires upfront fees for said packages, Buyer agrees to pay.