Wake North Carolina Addendum for Continued Marketing of Property by Seller due to Contingencies

• Category: Real Estate - Contracts - Addendums
• State: Multi-State
• County: Wake
• 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. Wake North Carolina Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document used in Wake County, North Carolina, to address specific circumstances that may arise during the process of selling a property. This addendum allows the seller to continue marketing the property even after entering into a purchase agreement, in case certain contingencies are not met within a specified period. Certain types of Wake North Carolina Addendum for Continued Marketing of Property by Seller due to Contingencies include: 1. Inspection Contingency: This addendum allows the seller to continue marketing the property if the buyer's inspection reveals significant issues that need to be resolved before proceeding with the sale. 2. Financing Contingency: In case the buyer's loan application encounters difficulties and financing cannot be obtained within the agreed-upon timeframe, this addendum enables the seller to keep the property on the market. 3. Title Contingency: If title-related issues arise during the selling process and cannot be resolved within the stipulated period, this addendum allows the seller to find alternative buyers while still pursuing a resolution. 4. Appraisal Contingency: If the property does not appraise at or above the agreed-upon purchase price, this addendum provides the option for the seller to search for other potential buyers while the appraisal issue is being addressed. 5. Home Sale Contingency: This addendum is applicable if the buyer's ability to purchase the property is contingent on selling their current home. If the buyer fails to sell their home within the given timeframe, the seller can continue marketing the property. The Wake North Carolina Addendum for Continued Marketing of Property by Seller due to Contingencies is an essential tool for sellers in Wake County, providing flexibility and peace of mind during the complex process of selling real estate. It allows the seller to maximize exposure and potential buyers while still protecting their interests in case contingencies arise.

Wake North Carolina Addendum for Continued Marketing of Property by Seller due to Contingencies is a legal document used in Wake County, North Carolina, to address specific circumstances that may arise during the process of selling a property. This addendum allows the seller to continue marketing the property even after entering into a purchase agreement, in case certain contingencies are not met within a specified period. Certain types of Wake North Carolina Addendum for Continued Marketing of Property by Seller due to Contingencies include: 1. Inspection Contingency: This addendum allows the seller to continue marketing the property if the buyer's inspection reveals significant issues that need to be resolved before proceeding with the sale. 2. Financing Contingency: In case the buyer's loan application encounters difficulties and financing cannot be obtained within the agreed-upon timeframe, this addendum enables the seller to keep the property on the market. 3. Title Contingency: If title-related issues arise during the selling process and cannot be resolved within the stipulated period, this addendum allows the seller to find alternative buyers while still pursuing a resolution. 4. Appraisal Contingency: If the property does not appraise at or above the agreed-upon purchase price, this addendum provides the option for the seller to search for other potential buyers while the appraisal issue is being addressed. 5. Home Sale Contingency: This addendum is applicable if the buyer's ability to purchase the property is contingent on selling their current home. If the buyer fails to sell their home within the given timeframe, the seller can continue marketing the property. The Wake North Carolina Addendum for Continued Marketing of Property by Seller due to Contingencies is an essential tool for sellers in Wake County, providing flexibility and peace of mind during the complex process of selling real estate. It allows the seller to maximize exposure and potential buyers while still protecting their interests in case contingencies arise.