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ROANOKE VALLEY ASSOCIATION OF REALTORS Removal of Contingency The undersigned, in consideration of the premises and of the following mutual promises and agreements, hereby agree to amend that certain
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How to fill out removal of contingency
How to fill out removal of contingency:
01
Obtain the appropriate removal of contingency form from your real estate agent, attorney, or the party responsible for handling the transaction.
02
Carefully review the contingency that you wish to remove. This could be a financing contingency, inspection contingency, or any other contingency that was initially included in the purchase agreement.
03
Make sure you understand the implications of removing the contingency. Consult with your real estate agent or attorney if you have any questions or concerns.
04
Fill out the removal of contingency form accurately and completely. Provide the necessary information such as your name, address, and contact information.
05
Specify the contingency that you wish to remove and provide a brief explanation of why you are removing it. This could be because you have obtained financing approval, completed satisfactory inspections, or any other reason specific to your situation.
06
Sign and date the removal of contingency form. If there are multiple parties involved, make sure all necessary parties also sign and date the form.
07
Submit the completed removal of contingency form to the appropriate party. This could be your real estate agent, attorney, or the party responsible for handling the transaction.
08
Keep a copy of the removal of contingency form for your records.
Who needs removal of contingency:
01
Buyers who have successfully met the conditions outlined in the contingency and are ready to proceed with the purchase without any further conditions.
02
Sellers who have received satisfactory resolutions to the contingencies outlined in the purchase agreement and are ready to move forward with the transaction without any further conditions.
03
Both buyers and sellers who have reached an agreement or settlement that renders the specific contingency unnecessary or fulfilled.
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What is removal of contingency?
The removal of contingency is the process of eliminating or resolving a condition or requirement that was previously in place.
Who is required to file removal of contingency?
The party who originally placed the contingency or requirement is typically required to file the removal of contingency.
How to fill out removal of contingency?
The removal of contingency can typically be filled out by submitting a form or document stating that the condition has been resolved.
What is the purpose of removal of contingency?
The purpose of removal of contingency is to confirm that the previously stated condition or requirement is no longer applicable.
What information must be reported on removal of contingency?
The removal of contingency form may require details about the original contingency, the reason for removal, and supporting documentation.
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