Arizona Addendum for Continued Marketing of Property by Seller due to Contingencies

• Category: Real Estate - Contracts - Addendums
• State: Multi-State
• Control #: US-00472-A2
• Format: Word; Rich Text

Description

This form is an Addendum to a Residential Real Estate Sales Contract allowing for the continued marketing of the subject property by the seller while seller completes the process of fulfilling certain contingencies. If another offer is received on the property, seller must notify the buyer that a new offer has been received, and that buyer must waive the contingencies or else property may be sold to new offeror. Adapt to fit your specific circumstances as desired. The Arizona Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document that is used in real estate transactions in the state of Arizona. This addendum allows the seller to continue marketing their property for sale even if there are certain contingencies that have not been satisfied. Contingencies are conditions that need to be met in order for the contract to be binding. These conditions can include items like home inspections, financing approvals, or repairs that need to be made. The purpose of this addendum is to give the seller the ability to keep their property on the market and entertain other offers while waiting for these contingencies to be satisfied. There are different types of Arizona Addendum for Continued Marketing of Property by Seller due to Contingencies: 1. Standard Addendum: This is the most common type of addendum used in Arizona real estate transactions. It allows the seller to continue marketing their property while contingencies are being addressed. 2. Specific Contingency Addendum: This addendum is used when there are specific contingencies that need to be addressed. It outlines the specific conditions that need to be met before the property can close and allows the seller to keep marketing the property until these conditions are satisfied. 3. Inspection Contingency Addendum: This addendum is used when there are issues found during the home inspection that need to be addressed. It allows the seller to continue marketing the property while repairs or negotiations are being made to satisfy the inspection contingency. 4. Financing Contingency Addendum: This addendum is used when there are financing issues that need to be resolved. It allows the seller to keep marketing the property while the buyer is working on obtaining financing or resolving any financing-related contingencies. In summary, the Arizona Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document that allows the seller to continue marketing their property while certain contingencies are being addressed. This addendum comes in different types based on the specific contingencies that need to be satisfied.

The Arizona Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document that is used in real estate transactions in the state of Arizona. This addendum allows the seller to continue marketing their property for sale even if there are certain contingencies that have not been satisfied. Contingencies are conditions that need to be met in order for the contract to be binding. These conditions can include items like home inspections, financing approvals, or repairs that need to be made. The purpose of this addendum is to give the seller the ability to keep their property on the market and entertain other offers while waiting for these contingencies to be satisfied. There are different types of Arizona Addendum for Continued Marketing of Property by Seller due to Contingencies: 1. Standard Addendum: This is the most common type of addendum used in Arizona real estate transactions. It allows the seller to continue marketing their property while contingencies are being addressed. 2. Specific Contingency Addendum: This addendum is used when there are specific contingencies that need to be addressed. It outlines the specific conditions that need to be met before the property can close and allows the seller to keep marketing the property until these conditions are satisfied. 3. Inspection Contingency Addendum: This addendum is used when there are issues found during the home inspection that need to be addressed. It allows the seller to continue marketing the property while repairs or negotiations are being made to satisfy the inspection contingency. 4. Financing Contingency Addendum: This addendum is used when there are financing issues that need to be resolved. It allows the seller to keep marketing the property while the buyer is working on obtaining financing or resolving any financing-related contingencies. In summary, the Arizona Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document that allows the seller to continue marketing their property while certain contingencies are being addressed. This addendum comes in different types based on the specific contingencies that need to be satisfied.