Tarrant Texas Addendum for Continued Marketing of Property by Seller due to Contingencies

• Category: Real Estate - Contracts - Addendums
• State: Multi-State
• County: Tarrant
• 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. Tarrant Texas Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document used in real estate transactions to extend the marketing period for selling a property. This addendum allows the seller to continue marketing their property even if there are certain contingencies that may delay the closing or completion of the sale. The Tarrant Texas Addendum for Continued Marketing of Property by Seller due to Contingencies serves as a supplemental agreement to the original purchase agreement and provides clarity and flexibility to both parties involved in the transaction. It specifies the conditions under which the seller can list the property again, how long the extension period will be, and any additional terms related to marketing efforts. There are two main types of Tarrant Texas Addendum for Continued Marketing of Property by Seller due to Contingencies: 1. Time Extension Addendum: This addendum is used when there are contingencies that have delayed the closing or completion of the sale. It allows the seller to extend the marketing period for a specific duration, typically ranging from 30 to 90 days. During this extended period, the seller can actively market the property and seek out potential buyers. 2. Contingency Addendum: This addendum is used when there are specific contingencies that need to be met before the sale can be finalized. These contingencies might include obtaining certain permits, repairs, or inspections. The Contingency Addendum allows the seller to continue marketing the property while these contingencies are being addressed. It outlines the timeline for meeting the contingencies and provides a mechanism for extending the marketing period if necessary. In summary, the Tarrant Texas Addendum for Continued Marketing of Property by Seller due to Contingencies is a valuable tool that allows sellers to continue promoting their property even in the face of delays or unresolved contingencies. It ensures transparency and flexibility in real estate transactions, benefiting both the seller and potential buyers.

Tarrant Texas Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document used in real estate transactions to extend the marketing period for selling a property. This addendum allows the seller to continue marketing their property even if there are certain contingencies that may delay the closing or completion of the sale. The Tarrant Texas Addendum for Continued Marketing of Property by Seller due to Contingencies serves as a supplemental agreement to the original purchase agreement and provides clarity and flexibility to both parties involved in the transaction. It specifies the conditions under which the seller can list the property again, how long the extension period will be, and any additional terms related to marketing efforts. There are two main types of Tarrant Texas Addendum for Continued Marketing of Property by Seller due to Contingencies: 1. Time Extension Addendum: This addendum is used when there are contingencies that have delayed the closing or completion of the sale. It allows the seller to extend the marketing period for a specific duration, typically ranging from 30 to 90 days. During this extended period, the seller can actively market the property and seek out potential buyers. 2. Contingency Addendum: This addendum is used when there are specific contingencies that need to be met before the sale can be finalized. These contingencies might include obtaining certain permits, repairs, or inspections. The Contingency Addendum allows the seller to continue marketing the property while these contingencies are being addressed. It outlines the timeline for meeting the contingencies and provides a mechanism for extending the marketing period if necessary. In summary, the Tarrant Texas Addendum for Continued Marketing of Property by Seller due to Contingencies is a valuable tool that allows sellers to continue promoting their property even in the face of delays or unresolved contingencies. It ensures transparency and flexibility in real estate transactions, benefiting both the seller and potential buyers.