South Carolina 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 South Carolina Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document designed to allow the seller of a property in South Carolina to continue marketing and seeking offers on their property even after entering into a contract with a buyer, due to specific contingencies outlined in the addendum. Keywords: South Carolina, addendum, marketing, property, seller, contingencies, contract, buyer. This addendum is typically utilized when a buyer includes contingencies in the purchase agreement that may potentially delay the closing or sale of the property, such as the need to sell their own home or obtain financing. By signing this addendum, the seller acknowledges and agrees to continue advertising, showing, and accepting offers on the property while the specified contingencies are being resolved. The South Carolina Addendum for Continued Marketing of Property by Seller due to Contingencies can be categorized into different types based on the specific contingencies mentioned within: 1. Home Sale Contingency Addendum: This type of addendum is used when the buyer includes a contingency that requires them to sell their own property before proceeding with the purchase of the seller's property. It allows the seller to continue marketing their property and seek other offers while the buyer navigates their own home sale process. 2. Financing Contingency Addendum: When the buyer includes a financing contingency in the purchase agreement, this addendum allows the seller to explore other potential buyers and offers while the buyer secures the necessary financing for the purchase. 3. Inspection Contingency Addendum: If the buyer includes an inspection contingency in the purchase agreement, this addendum allows the seller to continue showing the property and receiving offers while the buyer conducts inspections and negotiates potential repairs or adjustments. 4. Appraisal Contingency Addendum: When the buyer includes an appraisal contingency, this addendum permits the seller to keep marketing the property and seeking additional offers while the buyer awaits the appraisal to determine the property's value. These are just a few examples of the various types of South Carolina Addendums for Continued Marketing of Property by Seller due to Contingencies. The specific type used will depend on the contingencies outlined in the purchase agreement between the buyer and seller.

The South Carolina Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document designed to allow the seller of a property in South Carolina to continue marketing and seeking offers on their property even after entering into a contract with a buyer, due to specific contingencies outlined in the addendum. Keywords: South Carolina, addendum, marketing, property, seller, contingencies, contract, buyer. This addendum is typically utilized when a buyer includes contingencies in the purchase agreement that may potentially delay the closing or sale of the property, such as the need to sell their own home or obtain financing. By signing this addendum, the seller acknowledges and agrees to continue advertising, showing, and accepting offers on the property while the specified contingencies are being resolved. The South Carolina Addendum for Continued Marketing of Property by Seller due to Contingencies can be categorized into different types based on the specific contingencies mentioned within: 1. Home Sale Contingency Addendum: This type of addendum is used when the buyer includes a contingency that requires them to sell their own property before proceeding with the purchase of the seller's property. It allows the seller to continue marketing their property and seek other offers while the buyer navigates their own home sale process. 2. Financing Contingency Addendum: When the buyer includes a financing contingency in the purchase agreement, this addendum allows the seller to explore other potential buyers and offers while the buyer secures the necessary financing for the purchase. 3. Inspection Contingency Addendum: If the buyer includes an inspection contingency in the purchase agreement, this addendum allows the seller to continue showing the property and receiving offers while the buyer conducts inspections and negotiates potential repairs or adjustments. 4. Appraisal Contingency Addendum: When the buyer includes an appraisal contingency, this addendum permits the seller to keep marketing the property and seeking additional offers while the buyer awaits the appraisal to determine the property's value. These are just a few examples of the various types of South Carolina Addendums for Continued Marketing of Property by Seller due to Contingencies. The specific type used will depend on the contingencies outlined in the purchase agreement between the buyer and seller.