Hawaii 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 Hawaii Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document used in real estate transactions in the state of Hawaii. This addendum allows the seller to continue marketing the property even after a contingency has been included in the sales contract. The purpose of this addendum is to protect the seller's interests by allowing them to secure backup offers while a contingency is being fulfilled. Contingencies are conditions that must be met for the sale to proceed, such as obtaining financing or completing necessary inspections. During this time, the seller may incur costs related to marketing the property, such as advertising expenses or listing fees. The addendum ensures that the seller can recover these costs if the initial offer falls through. The addendum includes various details and provisions, such as a start date and an expiration date. The start date marks the point at which the seller can continue marketing the property, while the expiration date puts a time limit on the addendum's validity. Additionally, the addendum may specify the types of marketing activities the seller is allowed to undertake, such as holding open houses or placing advertisements. Depending on the specific circumstances and contingencies involved, there may be different types of Hawaii Addendum for Continued Marketing of Property by Seller due to Contingencies. For example, if the contingency is related to the buyer's financing, there may be an addendum that specifically addresses this scenario. Similarly, if the contingency is related to a specific inspection or appraisal, a different addendum may be used to account for this contingency. Overall, the Hawaii Addendum for Continued Marketing of Property by Seller due to Contingencies is a crucial document in real estate transactions, allowing sellers to protect their interests and continue marketing their property while contingencies are being fulfilled.

The Hawaii Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document used in real estate transactions in the state of Hawaii. This addendum allows the seller to continue marketing the property even after a contingency has been included in the sales contract. The purpose of this addendum is to protect the seller's interests by allowing them to secure backup offers while a contingency is being fulfilled. Contingencies are conditions that must be met for the sale to proceed, such as obtaining financing or completing necessary inspections. During this time, the seller may incur costs related to marketing the property, such as advertising expenses or listing fees. The addendum ensures that the seller can recover these costs if the initial offer falls through. The addendum includes various details and provisions, such as a start date and an expiration date. The start date marks the point at which the seller can continue marketing the property, while the expiration date puts a time limit on the addendum's validity. Additionally, the addendum may specify the types of marketing activities the seller is allowed to undertake, such as holding open houses or placing advertisements. Depending on the specific circumstances and contingencies involved, there may be different types of Hawaii Addendum for Continued Marketing of Property by Seller due to Contingencies. For example, if the contingency is related to the buyer's financing, there may be an addendum that specifically addresses this scenario. Similarly, if the contingency is related to a specific inspection or appraisal, a different addendum may be used to account for this contingency. Overall, the Hawaii Addendum for Continued Marketing of Property by Seller due to Contingencies is a crucial document in real estate transactions, allowing sellers to protect their interests and continue marketing their property while contingencies are being fulfilled.