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The Short Sale Contract is utilized in situations where a property owner needs to sell their property for less than the outstanding mortgage amount, typically due to financial hardship or market conditions. This document, essential in the Dutch real estate market, requires explicit approval from the mortgage holder and must comply with Dutch civil law requirements. It includes detailed provisions about the approved sale price, release of remaining mortgage obligations, transfer conditions, and necessary approvals from financial institutions. The contract ensures proper documentation of the bank's consent to accept less than the full mortgage amount and outlines the rights and obligations of all parties involved in the transaction. This type of agreement has become increasingly important in managing distressed property situations while maintaining compliance with Dutch financial regulations and property law.

1. Parties: Identification of the seller, buyer, and any relevant mortgage holders/banks

2. Background: Context of the short sale, including current mortgage situation and reason for short sale

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the property including cadastral details and address

5. Purchase Price: Agreed purchase price and confirmation that it is below the outstanding mortgage amount

6. Bank Approval: Acknowledgment of bank's approval for the short sale and any conditions attached

7. Payment Terms: Payment structure, timing, and transfer mechanics

8. Transfer Date: Specified date for property transfer and conditions precedent

9. Seller's Warranties: Warranties regarding property condition, encumbrances, and disclosure obligations

10. Buyer's Acknowledgments: Buyer's confirmation of property inspection and acceptance of condition

11. Completion Requirements: Steps required for completion including notarial deed requirements

12. Risk Transfer: Point at which risk transfers from seller to buyer

13. Default Provisions: Consequences of breach by either party

14. Governing Law: Confirmation of Dutch law application and jurisdiction