STG Buyer Subsequent Sale Affidavit
Escrow/File Number: __________________________
Property Address: __________________________
Buyer acknowledges and agrees as follows:
A condition of ________________________________'s (name of prior lender) approval of the short sale is that the Buyer agrees that the Buyer will not transfer the above-referenced property within _______ days of the close of escrow (the closing).
Buyer understands that the escrow holder (the settlement agent) has agreed to close this escrow and that Stewart Title Guaranty Company will be issuing to Buyer's Lender a Loan Policy of title insurance without raising an exception for such prior mortgage or the terms of the condition contained in the approval, in reliance upon the following acknowledgements by the Buyer.
Buyer shall not transfer or convey the property within said time period. Buyer hereby agrees to indemnify escrow holder (settlement agent) and Stewart Title Guaranty Company and hold them harmless from any loss, costs or damages, including, but not limited to attorneys' fees, which either may incur as a result of Buyer transferring the property within said time period.
Understood and acknowledged:
Sworn to before me this _______________ day of _______________.
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