New Mexico 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 New Mexico Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document that allows the seller of a property to continue marketing and showing the property to potential buyers despite the presence of contingencies in the sales contract. This addendum is typically used when there are contingencies in the contract that may delay or restrict the closing of the sale. Keywords: New Mexico, addendum, continued marketing, property, seller, contingencies, sales contract, potential buyers, closing, delay, restrict. Different types of New Mexico Addendum for Continued Marketing of Property by Seller due to Contingencies: 1. Addendum for Financing Contingency: This addendum allows the seller to continue marketing the property while the buyer is in the process of securing financing. It specifies the conditions and time periods under which the seller can continue showing the property even though the financing contingency is still in effect. 2. Addendum for Inspection Contingency: This addendum allows the seller to continue marketing the property while the buyer is conducting inspections and due diligence. It outlines the terms and conditions under which the seller can continue showcasing the property, despite the possibility of repair negotiations or potential issues discovered during the inspection period. 3. Addendum for Appraisal Contingency: This addendum permits the seller to keep marketing the property even if the buyer's appraisal comes in lower than the agreed-upon purchase price. It specifies the conditions under which the seller can continue attracting potential buyers while addressing the possibility of renegotiating the price based on the appraisal results. 4. Addendum for Sale of Buyer's Property Contingency: This addendum allows the seller to market the property while the buyer is selling their own property to fund the purchase. It outlines the conditions and timelines under which the seller can continue advertising the property while keeping the option to accept backup offers in case the buyer's property sale does not go through. 5. Addendum for Title Contingency: This addendum permits the seller to continue marketing the property while the buyer verifies the title's authenticity and clears any issues with the title company. It outlines the terms and conditions under which the seller can showcase the property while addressing any potential title-related contingencies that may arise. These different types of addendums provide flexibility for the seller to continue marketing the property while potential issues or contingencies are being resolved, ensuring that the sales process keeps moving forward.

The New Mexico Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document that allows the seller of a property to continue marketing and showing the property to potential buyers despite the presence of contingencies in the sales contract. This addendum is typically used when there are contingencies in the contract that may delay or restrict the closing of the sale. Keywords: New Mexico, addendum, continued marketing, property, seller, contingencies, sales contract, potential buyers, closing, delay, restrict. Different types of New Mexico Addendum for Continued Marketing of Property by Seller due to Contingencies: 1. Addendum for Financing Contingency: This addendum allows the seller to continue marketing the property while the buyer is in the process of securing financing. It specifies the conditions and time periods under which the seller can continue showing the property even though the financing contingency is still in effect. 2. Addendum for Inspection Contingency: This addendum allows the seller to continue marketing the property while the buyer is conducting inspections and due diligence. It outlines the terms and conditions under which the seller can continue showcasing the property, despite the possibility of repair negotiations or potential issues discovered during the inspection period. 3. Addendum for Appraisal Contingency: This addendum permits the seller to keep marketing the property even if the buyer's appraisal comes in lower than the agreed-upon purchase price. It specifies the conditions under which the seller can continue attracting potential buyers while addressing the possibility of renegotiating the price based on the appraisal results. 4. Addendum for Sale of Buyer's Property Contingency: This addendum allows the seller to market the property while the buyer is selling their own property to fund the purchase. It outlines the conditions and timelines under which the seller can continue advertising the property while keeping the option to accept backup offers in case the buyer's property sale does not go through. 5. Addendum for Title Contingency: This addendum permits the seller to continue marketing the property while the buyer verifies the title's authenticity and clears any issues with the title company. It outlines the terms and conditions under which the seller can showcase the property while addressing any potential title-related contingencies that may arise. These different types of addendums provide flexibility for the seller to continue marketing the property while potential issues or contingencies are being resolved, ensuring that the sales process keeps moving forward.