Philadelphia Pennsylvania Addendum for Continued Marketing of Property by Seller due to Contingencies

• Category: Real Estate - Contracts - Addendums
• State: Multi-State
• County: Philadelphia
• 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. Philadelphia Pennsylvania is a vibrant and historic city located in the northeastern United States. The city is a melting pot of diverse cultures, renowned for its rich history, stunning architecture, and thriving arts and culinary scenes. Known as the birthplace of American democracy, Philadelphia played an instrumental role in the country's founding and is home to numerous iconic landmarks. The Philadelphia Pennsylvania Addendum for Continued Marketing of Property by Seller due to Contingencies is an important document that allows sellers to extend the marketing period for their property in certain circumstances. This addendum is commonly used when the sale of a property is subject to certain contingencies, such as the buyer's ability to secure financing or the completion of necessary repairs. There are various types of Philadelphia Pennsylvania Addendum for Continued Marketing of Property by Seller due to Contingencies that cater to different needs and situations: 1. Financing Contingency Addendum: This addendum allows the seller to continue marketing the property if the buyer is unable to secure financing within the specified timeframe. 2. Home Inspection Contingency Addendum: If the buyer's offer is contingent upon a satisfactory home inspection, this addendum allows the seller to continue marketing the property until the inspection is completed and any necessary repairs are made. 3. Appraisal Contingency Addendum: In the event that the property appraisal comes in lower than the agreed-upon sale price, this addendum allows the seller to continue marketing the property while the appraisal issue is resolved. 4. Title Contingency Addendum: If there are any title-related issues that need to be resolved before the sale can proceed, this addendum enables the seller to continue marketing the property until the title concerns are resolved. It is crucial for sellers in Philadelphia, Pennsylvania, to use the appropriate addendum for continued marketing of their property to ensure compliance with local real estate regulations and to protect their interests. By using these addendums, sellers can maintain flexibility in marketing their property while navigating potential contingencies that may arise during the sales process.

Philadelphia Pennsylvania is a vibrant and historic city located in the northeastern United States. The city is a melting pot of diverse cultures, renowned for its rich history, stunning architecture, and thriving arts and culinary scenes. Known as the birthplace of American democracy, Philadelphia played an instrumental role in the country's founding and is home to numerous iconic landmarks. The Philadelphia Pennsylvania Addendum for Continued Marketing of Property by Seller due to Contingencies is an important document that allows sellers to extend the marketing period for their property in certain circumstances. This addendum is commonly used when the sale of a property is subject to certain contingencies, such as the buyer's ability to secure financing or the completion of necessary repairs. There are various types of Philadelphia Pennsylvania Addendum for Continued Marketing of Property by Seller due to Contingencies that cater to different needs and situations: 1. Financing Contingency Addendum: This addendum allows the seller to continue marketing the property if the buyer is unable to secure financing within the specified timeframe. 2. Home Inspection Contingency Addendum: If the buyer's offer is contingent upon a satisfactory home inspection, this addendum allows the seller to continue marketing the property until the inspection is completed and any necessary repairs are made. 3. Appraisal Contingency Addendum: In the event that the property appraisal comes in lower than the agreed-upon sale price, this addendum allows the seller to continue marketing the property while the appraisal issue is resolved. 4. Title Contingency Addendum: If there are any title-related issues that need to be resolved before the sale can proceed, this addendum enables the seller to continue marketing the property until the title concerns are resolved. It is crucial for sellers in Philadelphia, Pennsylvania, to use the appropriate addendum for continued marketing of their property to ensure compliance with local real estate regulations and to protect their interests. By using these addendums, sellers can maintain flexibility in marketing their property while navigating potential contingencies that may arise during the sales process.