¶¶Òõ¶ÌÊÓÆµ

Short Sale Agreement Template for Ireland

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Short Sale Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Short Sale Agreement

"I need a Short Sale Agreement for a residential property in Dublin, where Bank of Ireland has agreed to accept €280,000 against an outstanding mortgage of €350,000, with completion planned for March 2025; please include specific clauses about debt forgiveness and future claims waiver."

Document background
The Short Sale Agreement is utilized in situations where a property owner needs to sell their property but the market value is less than the outstanding mortgage balance. This document is crucial in the Irish property market, particularly in scenarios involving distressed properties or financial hardship. It requires careful consideration of the Land and Conveyancing Law Reform Act 2009, Consumer Protection Code 2012, and various banking regulations. The agreement typically includes detailed provisions for property valuation, lender consent, debt settlement terms, and the rights and obligations of all parties involved. It serves as a critical tool for preventing foreclosure while providing a structured approach to resolving mortgage debt issues, all within the framework of Irish property and banking law. The document must balance the interests of the distressed seller, the potential buyer, and the lending institution while ensuring compliance with relevant regulatory requirements.
Suggested Sections

1. Parties: Identifies all parties to the agreement: seller, buyer, and the lending institution

2. Background: Outlines the current property ownership, existing mortgage, reason for short sale, and lender's agreement to accept less than full mortgage payoff

3. Definitions: Defines key terms used throughout the agreement

4. Property Details: Detailed description of the property being sold, including legal description and registration details

5. Purchase Price and Payment Terms: Specifies the agreed purchase price, payment method, and timing of payments

6. Lender's Consent: Details of the lender's agreement to the short sale and terms of mortgage satisfaction

7. Conditions Precedent: Conditions that must be met before the agreement becomes effective

8. Completion: Process and requirements for completing the sale

9. Seller's Representations and Warranties: Seller's declarations regarding property condition, title, and other material facts

10. Buyer's Representations and Warranties: Buyer's declarations regarding financial capacity and understanding of short sale terms

11. Release and Discharge: Terms of release from remaining mortgage obligations

12. Governing Law and Jurisdiction: Confirms Irish law governs the agreement and jurisdiction for disputes

Optional Sections

1. Broker Involvement: Required when real estate brokers are involved in the transaction, detailing their roles and commissions

2. Debt Forgiveness Terms: Included when the lender agrees to forgive part of the outstanding debt

3. Property Maintenance: Required when there's a significant gap between agreement and completion, specifying maintenance responsibilities

4. Third-Party Claims: Needed when there are additional lienholders or claims on the property

5. Tax Implications: Added when specific tax consequences need to be acknowledged

6. Personal Insolvency Provisions: Required when the short sale is part of a personal insolvency arrangement

7. Confidentiality: Optional section for keeping terms of the agreement private

8. Future Claims Waiver: Optional protection against future claims by any party

Suggested Schedules

1. Schedule 1 - Property Details: Comprehensive legal description of the property and fixtures included in the sale

2. Schedule 2 - Existing Mortgage Details: Details of the current mortgage, including outstanding balance and terms

3. Schedule 3 - Payment Schedule: Detailed breakdown of the purchase price allocation and payment timing

4. Schedule 4 - Required Documentation: List of documents required from all parties to complete the transaction

5. Schedule 5 - Completion Requirements: Detailed checklist of all items needed for completion

6. Appendix A - Property Condition Report: Current condition of the property and any known issues

7. Appendix B - Lender's Consent Letter: Written confirmation from the lender agreeing to the short sale terms

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions





































Clauses





























Relevant Industries

Real Estate

Banking & Financial Services

Legal Services

Property Development

Mortgage Lending

Professional Services

Property Management

Financial Advisory

Relevant Teams

Legal

Real Estate

Property Management

Credit Risk

Mortgage Operations

Compliance

Valuations

Customer Relations

Financial Advisory

Debt Recovery

Relevant Roles

Real Estate Lawyer

Property Solicitor

Mortgage Advisor

Real Estate Agent

Bank Manager

Property Manager

Financial Advisor

Insolvency Practitioner

Conveyancing Solicitor

Credit Risk Manager

Property Valuation Specialist

Mortgage Underwriter

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Private Home Purchase Agreement

An Irish law-governed agreement for the sale and purchase of private residential property, detailing all terms and conditions of the property transfer.

find out more

Agreement To Buy And Sell (Real Estate)

An Irish law-governed contract between vendor and purchaser detailing terms and conditions for the sale and purchase of real estate property.

find out more

Contract Of Purchase And Sale For Commercial (Real Estate)

An Irish law-governed agreement for the purchase and sale of commercial real estate, detailing all aspects of the property transaction including price, terms, and completion requirements.

find out more

Contract To Buy And Sell (Real Estate)

An Irish law-governed agreement for the sale and purchase of real estate property, detailing terms, conditions, and obligations of the transaction.

find out more

Contract For The Sale And Purchase Of (Real Estate)

An Irish law-governed agreement for the sale and purchase of real estate, establishing terms, conditions, and obligations for property transfer between vendor and purchaser.

find out more

Buy Sell Contract (Real Estate)

An Irish law-governed contract for the sale and purchase of real estate property, establishing terms, conditions, and obligations for property transfer.

find out more

Realty Purchase Agreement

An Irish law-governed agreement for the sale and purchase of real property, detailing terms, conditions, and requirements for property ownership transfer.

find out more

Property Lease With Option To Buy

An Irish law agreement combining a property lease with a future purchase option, setting out terms for both rental period and potential property acquisition.

find out more

Standard Agreement For The Sale Of (Real Estate)

An Irish law-governed agreement for the sale and purchase of real estate, establishing legally binding terms for property transfer between vendor and purchaser.

find out more

Purchase Sale Agreement Commercial (Real Estate)

An Irish law-governed agreement for the sale and purchase of commercial real estate, detailing all essential transaction terms and conditions.

find out more

Home Sale Contract Form

An Irish legal contract template for residential property sales, compliant with Irish property law and conveyancing requirements.

find out more

Agreement Of Property Sale

An Irish law-governed agreement for the legal transfer of property ownership from seller to buyer, incorporating all essential elements required under Irish property law.

find out more

Purchase Sale Agreement Form

An Irish law-governed agreement documenting the terms and conditions for the sale and purchase of property, ensuring legal transfer of ownership.

find out more

Home Purchase Agreement Form

A standardized legal agreement for residential property sales in Ireland, outlining terms and conditions for property transfer between vendor and purchaser.

find out more

House Sale Agreement Form

An Irish law-governed agreement that documents and formalizes the sale and purchase of residential property, setting out all essential terms and conditions of the transaction.

find out more

Land Sale Agreement Form

An Irish law-governed agreement for the sale and purchase of land property, setting out terms, conditions, and statutory requirements for property transfer in Ireland.

find out more

Home Sale Contract By Owner

An Irish law-compliant contract for the direct sale of residential property between private parties without real estate agent involvement.

find out more

House Sales Contract On For Sale By Owner

An Irish law-governed contract for the direct sale of residential property between private parties without real estate agent involvement.

find out more

For Sale By Owner Home Purchase Contract

An Irish law-governed contract for direct property sales between owners and buyers without real estate agent involvement.

find out more

Agreement To Buy Property

An Irish law-governed agreement for the sale and purchase of property, setting out terms, conditions, and obligations for both vendor and purchaser.

find out more

Agreement Of Sale For A Residential Stand

An Irish law-governed agreement for the sale and purchase of a residential stand, including terms, conditions, and legal requirements for property transfer.

find out more

Simple Land Contract Purchase Agreement

An Irish law-governed agreement for the purchase and sale of land or property, setting out essential terms and conditions for property transfer.

find out more

Conditional Land Sale Agreement

An Irish law agreement for the sale of land or property subject to specific conditions that must be met before completion.

find out more

Commercial Real Estate Purchase Contract

An Irish law-governed agreement for the purchase and sale of commercial real estate properties, outlining all essential transaction terms and conditions.

find out more

Contract For Sale And Purchase

An Irish law-governed agreement for the transfer of property ownership from vendor to purchaser, incorporating standard Law Society conditions and transaction-specific terms.

find out more

Private Property Sale Agreement

An Irish law-governed agreement for the sale and transfer of private property between a seller and buyer, outlining all terms and conditions of the transaction.

find out more

Contract To Sell Property

An Irish law contract governing the sale and purchase of real property, setting out terms, conditions, and obligations of both vendor and purchaser.

find out more

Commercial Lease To Purchase Agreement

An Irish law-governed agreement combining commercial property lease terms with a future purchase option, setting out conditions for both leasing and buying.

find out more

Vacant Land Sale Contract

An Irish law-governed contract for the sale and purchase of vacant land, detailing terms, conditions, and requirements for property transfer.

find out more

Private House Sale Contract

An Irish law-governed contract for the sale and purchase of private residential property, outlining terms, conditions, and obligations of both parties.

find out more

Commercial Property Sale Contract

An Irish law-governed agreement for the sale and purchase of commercial property, incorporating all essential terms and regulatory requirements for property transfer in Ireland.

find out more

Offer Of Purchase And Sale

An Irish law-governed agreement establishing the terms and conditions for the sale and purchase of property, detailing rights and obligations of both vendor and purchaser.

find out more

Apartment Sale And Purchase Agreement

An Irish law-governed agreement for the sale and purchase of an apartment, including terms, conditions, and apartment-specific provisions.

find out more

Purchase Agreement Personal Property

An Irish law-governed agreement for the sale and purchase of personal property, detailing terms of sale and transfer of ownership.

find out more

Purchase Agreement For Land

An Irish law-governed agreement documenting the terms and conditions for the sale and purchase of real property, including all essential elements required for land transfer under Irish legislation.

find out more

Residential Sales Contract

An Irish law-governed contract for the sale and purchase of residential property, establishing terms, conditions, and obligations for property transfer.

find out more

Option To Buy Land Agreement

An Irish law agreement granting an exclusive right to purchase specified land within a set timeframe, subject to agreed terms and conditions.

find out more

Commercial Property Purchase Contract

An Irish law-governed agreement for the purchase and sale of commercial property, detailing all essential transaction terms and compliance requirements.

find out more

Purchase And Sale Agreement Form

An Irish law-governed agreement that documents the terms and conditions for the sale and purchase of property, ensuring legal compliance and protection for all parties involved.

find out more

Agreement To Sell Land

An Irish law-governed agreement documenting the terms and conditions for the sale and purchase of land or property in Ireland.

find out more

Vacant Land Purchase Agreement

An Irish law-governed agreement for the sale and purchase of vacant land, establishing terms, conditions, and procedures for property transfer.

find out more

Seller Agreement Form

An Irish law-governed agreement establishing terms and conditions for sellers to offer products or services through a platform or marketplace.

find out more

Property Sale Contract

An Irish law-governed contract that facilitates the legal transfer of property ownership from seller to buyer, detailing all essential terms and conditions of the sale.

find out more

Seller And Buyer Agreement

An Irish law-governed agreement setting out terms and conditions between a seller and buyer for the sale and purchase of goods or services.

find out more

Home Selling Contract

An Irish law-governed contract for the sale and purchase of residential property, incorporating essential transaction terms and legal requirements.

find out more

Deed Of Sale Of Property

An Irish law-governed deed that legally transfers property ownership from seller to buyer, incorporating all essential elements required for valid property conveyance in Ireland.

find out more

Commercial Purchase Agreement

An Irish law-governed agreement setting out terms and conditions for commercial purchase of goods between businesses, including product specifications, pricing, delivery, and warranties.

find out more

Commercial Property Purchase Agreement

An Irish law-governed agreement for the sale and purchase of commercial property, setting out terms, conditions, and obligations of both parties.

find out more

Commercial Real Estate Sales Contract

An Irish law-governed contract for the sale and purchase of commercial real estate, detailing all essential transaction terms and compliance requirements.

find out more

House Purchase Agreement Form

An Irish law-governed agreement for the sale and purchase of residential property, establishing the terms and conditions for property transfer between vendor and purchaser.

find out more

Short Sale Agreement

An Irish law agreement governing the sale of a mortgaged property for less than the outstanding loan balance, with lender consent and debt settlement terms.

find out more

Seller Agreement

An Irish law-governed agreement establishing terms and conditions for a seller to sell products or services on behalf of a principal company.

find out more

Sales Contract For House

An Irish law-governed contract for the sale and purchase of residential property, outlining terms, conditions, and requirements for property transfer.

find out more

Purchase And Sale Agreement

An Irish law-governed agreement documenting the transfer of assets, property, or business interests from seller to buyer, including all essential terms and conditions of sale.

find out more

Property Sale Agreement

An Irish law-governed agreement documenting the legal transfer of property ownership between seller and buyer, setting out all essential terms and conditions of the sale.

find out more

Offer To Purchase Real Estate Form

An Irish legal document presenting a formal offer to purchase real estate, outlining key terms and conditions under Irish property law.

find out more

Land Sale Contract

An Irish law agreement for the sale and purchase of real property, setting out terms, conditions, and obligations for property transfer.

find out more

For Sale By Owner Purchase Agreement

An Irish law-governed agreement for direct property sales between private sellers and buyers without real estate agent involvement.

find out more

Agreement To Sell (Real Estate)

An Irish law-governed agreement documenting the terms and conditions for the sale and purchase of real estate property in Ireland.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.