Phoenix Arizona Addendum for Sale of Other Property by Buyer

• Category: Real Estate - Contracts - Addendums
• State: Multi-State
• City: Phoenix
• Control #: US-00472-A7
• Format: Word; Rich Text

Description

Attaching this addendum makes the Real Estate Purchase Contract contingent on Buyer's sale of other property by a date certain. Ideal if Buyer must sell their old home before buying the new residence. Phoenix, Arizona is a vibrant city with a rich history and diverse culture. Known for its sunny weather and stunning desert landscapes, Phoenix attracts residents and visitors alike. From its bustling downtown to the picturesque Sonoran Desert, this city offers a unique blend of urban amenities and natural beauty. One common document used in real estate transactions in Phoenix is the Addendum for Sale of Other Property by Buyer. This addendum is typically included in a purchase agreement when the buyer needs to sell their current property in order to finance the purchase of a new property. The purpose of the Addendum for Sale of Other Property by Buyer is to outline the conditions and timeline for the sale of the buyer's current property. It provides protection to both the buyer and the seller by ensuring that the buyer is actively pursuing the sale of their property and that the seller has the option to continue marketing their property until the buyer's property is sold. There are several variations of the Phoenix Arizona Addendum for Sale of Other Property by Buyer, each designed to address different scenarios and contingencies. The most common types include: 1. Standard Addendum for Sale of Other Property by Buyer: This addendum outlines the general requirements for the sale of the buyer's property, such as the listing period, minimum sales price, and closing deadlines. It provides a basic framework for the buyer and seller to work within during the transaction. 2. Contingency Addendum for Sale of Other Property by Buyer: This addendum includes additional contingencies that must be met before the purchase agreement becomes binding. These contingencies could include obtaining a certain sale price for the buyer's property or securing financing for the new property based on the sale of the buyer's current property. 3. Timeframe Addendum for Sale of Other Property by Buyer: This addendum specifies a specific timeframe within which the buyer must sell their property. It typically includes provisions for extending the closing date of the purchase agreement if the buyer's property has not sold within the designated timeframe. By using the appropriate Phoenix Arizona Addendum for Sale of Other Property by Buyer, both buyers and sellers can navigate the complexities of the real estate transaction with clarity and confidence. It is essential for all parties involved to understand the specific terms and conditions outlined in the addendum to ensure a smooth and successful sale.

Phoenix, Arizona is a vibrant city with a rich history and diverse culture. Known for its sunny weather and stunning desert landscapes, Phoenix attracts residents and visitors alike. From its bustling downtown to the picturesque Sonoran Desert, this city offers a unique blend of urban amenities and natural beauty. One common document used in real estate transactions in Phoenix is the Addendum for Sale of Other Property by Buyer. This addendum is typically included in a purchase agreement when the buyer needs to sell their current property in order to finance the purchase of a new property. The purpose of the Addendum for Sale of Other Property by Buyer is to outline the conditions and timeline for the sale of the buyer's current property. It provides protection to both the buyer and the seller by ensuring that the buyer is actively pursuing the sale of their property and that the seller has the option to continue marketing their property until the buyer's property is sold. There are several variations of the Phoenix Arizona Addendum for Sale of Other Property by Buyer, each designed to address different scenarios and contingencies. The most common types include: 1. Standard Addendum for Sale of Other Property by Buyer: This addendum outlines the general requirements for the sale of the buyer's property, such as the listing period, minimum sales price, and closing deadlines. It provides a basic framework for the buyer and seller to work within during the transaction. 2. Contingency Addendum for Sale of Other Property by Buyer: This addendum includes additional contingencies that must be met before the purchase agreement becomes binding. These contingencies could include obtaining a certain sale price for the buyer's property or securing financing for the new property based on the sale of the buyer's current property. 3. Timeframe Addendum for Sale of Other Property by Buyer: This addendum specifies a specific timeframe within which the buyer must sell their property. It typically includes provisions for extending the closing date of the purchase agreement if the buyer's property has not sold within the designated timeframe. By using the appropriate Phoenix Arizona Addendum for Sale of Other Property by Buyer, both buyers and sellers can navigate the complexities of the real estate transaction with clarity and confidence. It is essential for all parties involved to understand the specific terms and conditions outlined in the addendum to ensure a smooth and successful sale.