Santa Clara California Addendum for Continued Marketing of Property by Seller due to Contingencies

• Category: Real Estate - Contracts - Addendums
• State: Multi-State
• County: Santa Clara
• 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. Santa Clara, California Addendum for Continued Marketing of Property by Seller due to Contingencies is a document that allows the seller of a property in Santa Clara, California to continue marketing the property despite certain contingencies that may be present during the sales process. The purpose of this addendum is to provide flexibility to the seller by allowing them to keep the property on the market while potential buyers navigate through any contingencies, such as financing, inspections, or appraisal issues. This can be particularly useful in a competitive real estate market like Santa Clara, where properties often receive multiple offers. The Santa Clara, California Addendum for Continued Marketing of Property by Seller due to Contingencies acknowledges that the seller may receive a backup offer during the ongoing marketing period. A backup offer is an offer that is accepted by the seller but remains in a secondary position, subject to the failure of the primary offer. This addendum ensures that the seller has the option to accept a backup offer while the property is still actively marketed. Types of Santa Clara, California Addendum for Continued Marketing of Property by Seller due to Contingencies may include: 1. Financing Contingency Addendum: This addendum allows the seller to continue marketing the property while potential buyers obtain financing. It outlines the specific provisions related to financing contingencies and the steps involved in accessing these contingencies. 2. Inspection Contingency Addendum: This addendum permits the seller to market the property while allowing potential buyers to conduct inspections. It outlines the timelines and procedures for inspections, allowing the seller to proceed with alternative offers if any issues arise during the inspection process. 3. Appraisal Contingency Addendum: This type of addendum enables the seller to keep marketing the property while potential buyers await appraisal results. It establishes the conditions under which the seller can proceed with marketing, such as requiring buyers to waive the appraisal contingency or allowing them to withdraw their offer if the appraisal comes in below the agreed-upon price. In conclusion, the Santa Clara, California Addendum for Continued Marketing of Property by Seller due to Contingencies is a valuable tool that allows sellers in Santa Clara to maintain an active marketing strategy for their property while accommodating potential buyers navigating through various contingencies.

Santa Clara, California Addendum for Continued Marketing of Property by Seller due to Contingencies is a document that allows the seller of a property in Santa Clara, California to continue marketing the property despite certain contingencies that may be present during the sales process. The purpose of this addendum is to provide flexibility to the seller by allowing them to keep the property on the market while potential buyers navigate through any contingencies, such as financing, inspections, or appraisal issues. This can be particularly useful in a competitive real estate market like Santa Clara, where properties often receive multiple offers. The Santa Clara, California Addendum for Continued Marketing of Property by Seller due to Contingencies acknowledges that the seller may receive a backup offer during the ongoing marketing period. A backup offer is an offer that is accepted by the seller but remains in a secondary position, subject to the failure of the primary offer. This addendum ensures that the seller has the option to accept a backup offer while the property is still actively marketed. Types of Santa Clara, California Addendum for Continued Marketing of Property by Seller due to Contingencies may include: 1. Financing Contingency Addendum: This addendum allows the seller to continue marketing the property while potential buyers obtain financing. It outlines the specific provisions related to financing contingencies and the steps involved in accessing these contingencies. 2. Inspection Contingency Addendum: This addendum permits the seller to market the property while allowing potential buyers to conduct inspections. It outlines the timelines and procedures for inspections, allowing the seller to proceed with alternative offers if any issues arise during the inspection process. 3. Appraisal Contingency Addendum: This type of addendum enables the seller to keep marketing the property while potential buyers await appraisal results. It establishes the conditions under which the seller can proceed with marketing, such as requiring buyers to waive the appraisal contingency or allowing them to withdraw their offer if the appraisal comes in below the agreed-upon price. In conclusion, the Santa Clara, California Addendum for Continued Marketing of Property by Seller due to Contingencies is a valuable tool that allows sellers in Santa Clara to maintain an active marketing strategy for their property while accommodating potential buyers navigating through various contingencies.