West Virginia 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 West Virginia Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document that is used when the sale of a property is contingent upon certain conditions being met. This addendum allows the seller to continue marketing the property to potential buyers, even after an offer has been accepted, in case the contingencies are not satisfied within a specified timeframe. Keywords that are relevant to this addendum include: West Virginia, addendum, continued marketing, property, seller, contingencies. There are different types of West Virginia Addendum for Continued Marketing of Property by Seller due to Contingencies, such as: 1. Inspection Contingency Addendum: This addendum allows the seller to keep marketing the property while the buyer conducts inspections and due diligence on the property. If any issues are found during the inspections, the buyer may have the option to negotiate repairs or further negotiate the terms of the sale. 2. Financing Contingency Addendum: This addendum allows the seller to continue marketing the property while the buyer secures financing for the purchase. It typically includes a specific timeframe within which the buyer must provide proof of financing, and if they fail to do so, the seller can terminate the agreement and move forward with other buyers. 3. Appraisal Contingency Addendum: This addendum enables the seller to market the property while the buyer awaits the results of an appraisal. If the property appraises for less than the agreed-upon sale price, the buyer may have the option to negotiate a price reduction or withdraw from the sale altogether. 4. Home Sale Contingency Addendum: This type of addendum allows the seller to continue marketing the property while the buyer sells their current home. If the buyer is unable to sell their home within a specific timeframe, the seller may have the right to terminate the agreement and seek other buyers. In conclusion, the West Virginia Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document that allows sellers to continue marketing their property while certain conditions or contingencies are being met. It ensures flexibility for both parties involved and safeguards the seller's interests. Different types of contingencies may require specific addendums to address their unique requirements.

The West Virginia Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document that is used when the sale of a property is contingent upon certain conditions being met. This addendum allows the seller to continue marketing the property to potential buyers, even after an offer has been accepted, in case the contingencies are not satisfied within a specified timeframe. Keywords that are relevant to this addendum include: West Virginia, addendum, continued marketing, property, seller, contingencies. There are different types of West Virginia Addendum for Continued Marketing of Property by Seller due to Contingencies, such as: 1. Inspection Contingency Addendum: This addendum allows the seller to keep marketing the property while the buyer conducts inspections and due diligence on the property. If any issues are found during the inspections, the buyer may have the option to negotiate repairs or further negotiate the terms of the sale. 2. Financing Contingency Addendum: This addendum allows the seller to continue marketing the property while the buyer secures financing for the purchase. It typically includes a specific timeframe within which the buyer must provide proof of financing, and if they fail to do so, the seller can terminate the agreement and move forward with other buyers. 3. Appraisal Contingency Addendum: This addendum enables the seller to market the property while the buyer awaits the results of an appraisal. If the property appraises for less than the agreed-upon sale price, the buyer may have the option to negotiate a price reduction or withdraw from the sale altogether. 4. Home Sale Contingency Addendum: This type of addendum allows the seller to continue marketing the property while the buyer sells their current home. If the buyer is unable to sell their home within a specific timeframe, the seller may have the right to terminate the agreement and seek other buyers. In conclusion, the West Virginia Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document that allows sellers to continue marketing their property while certain conditions or contingencies are being met. It ensures flexibility for both parties involved and safeguards the seller's interests. Different types of contingencies may require specific addendums to address their unique requirements.