TREC Form 45-2 Short Sale Addendum - Texas

TREC Form 45-2 Short Sale Addendum - Texas

What Is TREC Form 45-2?

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 TREC Form 45-2?
A: TREC Form 45-2 is the Short Sale Addendum specifically designed for real estate transactions in Texas.

Q: What is a short sale?
A: A short sale is a real estate transaction where the homeowner sells the property for less than what is owed on the mortgage.

Q: Why would a homeowner consider a short sale?
A: A homeowner may consider a short sale if they are unable to keep up with mortgage payments and want to avoid foreclosure.

Q: Is TREC Form 45-2 mandatory for short sale transactions in Texas?
A: Yes, TREC Form 45-2 is the required addendum for short sale transactions in Texas.

Q: Who should use TREC Form 45-2?
A: TREC Form 45-2 should be used by real estate agents, buyers, and sellers involved in a short sale transaction in Texas.

Q: What information is included in TREC Form 45-2?
A: TREC Form 45-2 includes information about the short sale transaction, such as the property address, purchase price, and terms and conditions of the sale.

Q: Do I need to consult an attorney when using TREC Form 45-2?
A: While it is not mandatory to consult an attorney, it is recommended to seek legal advice when using TREC Form 45-2 or any real estate form.

Q: Can TREC Form 45-2 be modified or customized?
A: TREC Form 45-2 should not be modified or customized without the guidance of legal counsel or a licensed real estate professional.

Q: What happens after TREC Form 45-2 is signed?
A: After TREC Form 45-2 is signed, it becomes part of the overall contract and the short sale transaction can proceed according to the agreed terms.

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Form Details:

  • Released on February 19, 2021;
  • 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 45-2 by clicking the link below or browse more documents and templates provided by the Texas Real Estate Commission.

Download TREC Form 45-2 Short Sale Addendum - Texas

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  • TREC Form 45-2 Short Sale Addendum - Texas, Page 1
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