Most often times the buyer will complete the purchase contract and the addendum at the same time when submitting the offer. The bank reviewing the short sale will not accept any offer that is not accompanied by an addendum.
Are you not working with an agent? As the buyer it is always in your best interest to do so as their commission is paid by the seller, buyers do not pay commissions. A good buyers agent will know how to write a contract that best protects you. It is especially important with short sales to work with someone that has worked on short sale files in the past. Often times people don't understand the process and can become very frustrated.
My team and I handle short sales on a daily basis and in my experience is their are still great deals to be had; with the right expectations and a little patiences.
If you have any questions about the short sale process or would like someone to help you with your current contract I would be more than happy to offer my services.
Jackson Realty Colorado
I have only one question here. I am sure your attorney told you that whether or not you agree with everything in the contract, once you sign, you are held to those terms. Why did you sign something with which you do not agree? The short sale addendum does not change anything in the contract unless it is the 2 dates mentioned. If you want to see a copy of all of the Colorado contracts, you can go to
I have 29 years of experience and if you are not working with a buyer's agent at this time, feel free to contact me at 303-973-2372.
If you are paying an attorney, I'd go with what they are telling you.......
As a buyer, you normally write the offer and the addendum and present it to the seller at the same time. The seller can sign them or he can do a counter and also amend the terms of the short sale if you agree. The main problem you have may be that there are 2 attorneys involved. :)
When I represent a buyer in a short sale, we submit a Contract to Buy to the seller's agent, along with a Short Sale Addendum and other Colorado required disclosures -- seller's property disclosure, SF disclosures, closing instructions. etc. The addendum just identifies the basics of what a Short Sale is, defines terms such as "Lien Holder", "Short Sale Acceptance" etc. when either party can terminate, etc. The seller then responds to your Contract to Buy, by either 1. accepting, 2 rejecting, or 3 countering. Once both parties agree to the terms of the CONTRACT, then the LISTING AGENT submits the contract, SSA, disclosures, etc. -- signed by BOTH parties.