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HOME SALE CONTINGENCY WORDING FOR CONTRACTS HOME SALE WHEN HOME IS NOT UNDER CONTRACT: This Agreement is specifically contingent upon the ability of the Purchase(s) to sell their present home at within
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How to fill out home sale contingency wording

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How to fill out home sale contingency wording:

01
Begin by clearly identifying the parties involved in the transaction, including the buyer, the seller, and any real estate agents or brokers involved.
02
Specify the terms of the contingency, such as the specific conditions that must be met for the contingency to be activated. This may include a time frame for the sale of the buyer's current home, the price at which it must be sold, and any other relevant details.
03
Clearly outline the responsibilities of each party in regards to the contingency. For example, the buyer may be responsible for actively marketing their current home for sale, while the seller may be obligated to allow showings and provide requested documentation.
04
Include any provisions for terminating the contingency in the event that the buyer is unable to sell their current home within the specified time frame or at the agreed-upon price.
05
Consider consulting with a real estate attorney or expert to ensure that the wording of the contingency is legally sound and protects the interests of all parties involved.

Who needs home sale contingency wording?

01
Homebuyers who need to sell their current home before being able to close on a new property.
02
Sellers who are willing to accept offers from buyers with a home sale contingency, knowing that it may take longer to complete the transaction.
03
Real estate agents or brokers who want to ensure that the home sale contingency is properly documented in the purchase agreement.
04
Lenders or financial institutions who may require a home sale contingency as part of their lending terms.
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Home sale contingency wording is a clause in a real estate contract that allows a buyer to back out of the deal if they are unable to sell their current home.
The buyer who wants to include a home sale contingency clause in the real estate contract is required to file the home sale contingency wording.
The home sale contingency wording should be carefully drafted to include specific terms and conditions that protect the buyer in case their current home doesn't sell.
The purpose of home sale contingency wording is to provide a way for a buyer to protect themselves in case they are unable to sell their current home and therefore cannot proceed with the purchase of a new one.
The home sale contingency wording should include details such as the timeline for selling the current home, any minimum sale price requirements, and the process for notifying the seller of any developments.
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Relevant keywords

Purchasr Purchaser allowable Realtors WORDING herein monies null contingent fide bona CONCESSION CONTINGENCY premium waive

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