Nassau New York Addendum for Continued Marketing of Property by Seller due to Contingencies

• Category: Real Estate - Contracts - Addendums
• State: Multi-State
• County: Nassau
• 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. Nassau New York is a vibrant and historic town located in the heart of Long Island, offering a variety of attractions and amenities for residents and tourists alike. Known for its rich history, beautiful landscapes, and diverse culture, Nassau is a sought-after destination for individuals seeking a charming community with convenient access to New York City. The Nassau New York Addendum for Continued Marketing of Property by Seller due to Contingencies is a crucial document in real estate transactions. Contingencies refer to specific conditions that must be met before a sale can be finalized. This addendum ensures that the seller can continue marketing their property while these contingencies are resolved, allowing them to explore other potential buyers and options. There are various types of Nassau New York Addendum for Continued Marketing of Property by Seller due to Contingencies, including: 1. Inspection Contingency Addendum: This type of addendum allows for the property to remain on the market until the buyer completes a satisfactory inspection. It gives the seller the flexibility to accept backup offers during the inspection period. 2. Financing Contingency Addendum: This addendum enables the seller to continue marketing their property while the buyer secures the necessary financing. It ensures that the seller can explore other potential buyers in case the initial buyer fails to obtain financing. 3. Title Contingency Addendum: In the event of title issues, this addendum allows the property to stay on the market while the buyer and seller work towards resolving any title-related problems. The seller can still accept backup offers to ensure a smooth transaction once the title issues are resolved. 4. Appraisal Contingency Addendum: This type of addendum allows the seller to keep their property available for sale until the buyer's appraisal is completed. It provides an opportunity for the seller to secure alternative offers if the appraisal falls short of the agreed-upon sale price. The Nassau New York Addendum for Continued Marketing of Property by Seller due to Contingencies is an essential tool that ensures the seller can maximize their options while contingencies are being addressed. By enabling the property to remain on the market, it allows the seller to explore other potential buyers, increasing the chances of a successful sale.

Nassau New York is a vibrant and historic town located in the heart of Long Island, offering a variety of attractions and amenities for residents and tourists alike. Known for its rich history, beautiful landscapes, and diverse culture, Nassau is a sought-after destination for individuals seeking a charming community with convenient access to New York City. The Nassau New York Addendum for Continued Marketing of Property by Seller due to Contingencies is a crucial document in real estate transactions. Contingencies refer to specific conditions that must be met before a sale can be finalized. This addendum ensures that the seller can continue marketing their property while these contingencies are resolved, allowing them to explore other potential buyers and options. There are various types of Nassau New York Addendum for Continued Marketing of Property by Seller due to Contingencies, including: 1. Inspection Contingency Addendum: This type of addendum allows for the property to remain on the market until the buyer completes a satisfactory inspection. It gives the seller the flexibility to accept backup offers during the inspection period. 2. Financing Contingency Addendum: This addendum enables the seller to continue marketing their property while the buyer secures the necessary financing. It ensures that the seller can explore other potential buyers in case the initial buyer fails to obtain financing. 3. Title Contingency Addendum: In the event of title issues, this addendum allows the property to stay on the market while the buyer and seller work towards resolving any title-related problems. The seller can still accept backup offers to ensure a smooth transaction once the title issues are resolved. 4. Appraisal Contingency Addendum: This type of addendum allows the seller to keep their property available for sale until the buyer's appraisal is completed. It provides an opportunity for the seller to secure alternative offers if the appraisal falls short of the agreed-upon sale price. The Nassau New York Addendum for Continued Marketing of Property by Seller due to Contingencies is an essential tool that ensures the seller can maximize their options while contingencies are being addressed. By enabling the property to remain on the market, it allows the seller to explore other potential buyers, increasing the chances of a successful sale.