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TREC Form 45-1 Short Sale Addendum - Texas
What Is TREC Form 45-1?
This is a legal form that was released by the Texas Real Estate Commission - a government authority operating within Texas. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is the TREC Form 45-1?
A: TREC Form 45-1 is the Short Sale Addendum used in Texas real estate transactions.
Q: What is a short sale?
A: A short sale is when a homeowner sells their property for less than the balance owed on their mortgage.
Q: Why would someone do a short sale?
A: A homeowner might do a short sale if they are facing financial hardship and cannot afford to continue making mortgage payments.
Q: What does the TREC Form 45-1 Short Sale Addendum cover?
A: The TREC Form 45-1 covers important aspects of the short sale transaction, such as listing price, lender approval, and buyer responsibilities.
Q: Do I need to use the TREC Form 45-1 in a short sale transaction?
A: In Texas, it is recommended to use the TREC Form 45-1 to provide clarity and protection for all parties involved in a short sale transaction.
Form Details:
- Released on December 5, 2011;
- The latest edition provided by the Texas Real Estate Commission;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of TREC Form 45-1 by clicking the link below or browse more documents and templates provided by the Texas Real Estate Commission.
