San Antonio Texas Addendum for Purchase of Other Property by Seller

• Category: Real Estate - Contracts - Addendums
• State: Multi-State
• City: San Antonio
• Control #: US-00472-A6
• Format: Word; Rich Text

Description

This is an addendum to a Real Estate Purchase Contract. The addendum makes the purchase contract contingent on the Seller's purchase of other property by a date certain. Ideal if Seller needs to find another place to live before selling current residence. San Antonio, Texas is a vibrant city located in the southern part of the state. Known for its rich history, cultural diversity, and thriving economy, San Antonio offers a unique blend of old-world charm and modern amenities. The San Antonio Texas Addendum for Purchase of Other Property by Seller is a legally binding document that is commonly used during real estate transactions. This addendum allows the seller to make the sale contingent upon the successful purchase of another property. It provides specific provisions and conditions that must be met for the sale to proceed. There are several types of San Antonio Texas Addendum for Purchase of Other Property by Seller, depending on the specific circumstances of the transaction. Here are some common types: 1. Contingent Addendum: This addendum is used when the seller wants to make the sale of their property contingent upon the successful purchase of another property. It outlines the specific contingency, such as the timeframe for finding and closing on the new property. 2. Kick-Out Addendum: This addendum is used when the seller has already received an offer on their property but wants the option to accept a better offer if it comes along. It typically includes a timeframe within which the original buyer must remove their contingency and proceed with the purchase or allow the seller to accept a different offer. 3. Backup Addendum: This addendum is used when the seller has already accepted an offer on their property but wants to have a backup offer in place in case the first offer falls through. It provides conditions that the backup buyer must meet in order to proceed with the purchase. When using the San Antonio Texas Addendum for Purchase of Other Property by Seller, it is essential to consult with a real estate attorney or agent to ensure that all legal requirements are met and the document accurately reflects the desired terms.

San Antonio, Texas is a vibrant city located in the southern part of the state. Known for its rich history, cultural diversity, and thriving economy, San Antonio offers a unique blend of old-world charm and modern amenities. The San Antonio Texas Addendum for Purchase of Other Property by Seller is a legally binding document that is commonly used during real estate transactions. This addendum allows the seller to make the sale contingent upon the successful purchase of another property. It provides specific provisions and conditions that must be met for the sale to proceed. There are several types of San Antonio Texas Addendum for Purchase of Other Property by Seller, depending on the specific circumstances of the transaction. Here are some common types: 1. Contingent Addendum: This addendum is used when the seller wants to make the sale of their property contingent upon the successful purchase of another property. It outlines the specific contingency, such as the timeframe for finding and closing on the new property. 2. Kick-Out Addendum: This addendum is used when the seller has already received an offer on their property but wants the option to accept a better offer if it comes along. It typically includes a timeframe within which the original buyer must remove their contingency and proceed with the purchase or allow the seller to accept a different offer. 3. Backup Addendum: This addendum is used when the seller has already accepted an offer on their property but wants to have a backup offer in place in case the first offer falls through. It provides conditions that the backup buyer must meet in order to proceed with the purchase. When using the San Antonio Texas Addendum for Purchase of Other Property by Seller, it is essential to consult with a real estate attorney or agent to ensure that all legal requirements are met and the document accurately reflects the desired terms.