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AMENDMENT TO RESIDENTIAL PURCHASE AGREEMENT AND REMOVAL OF INSPECTION CONTINGENCIES 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 This is an Amendment to the Residential

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How to fill out removal of contingency

How to Fill Out Removal of Contingency:

01

Review your real estate contract: First, carefully read through your real estate contract to understand the specific contingencies that were included. These contingencies may vary depending on the type of property, the terms of the sale, and any negotiations made during the process.

02

Determine which contingency needs to be removed: Identify the specific contingency that you would like to remove. Common contingencies include financing contingencies, inspection contingencies, appraisal contingencies, or any other conditions that were included in the contract.

03

Consult with your real estate agent or attorney: It is highly recommended to seek professional advice from a real estate agent or an attorney who can guide you through the process. They can help you understand the legal implications and potential consequences of removing a contingency.

04

Prepare the Removal of Contingency form: Typically, there is a specific form used for removing contingencies in real estate transactions. Obtain this form from your real estate agent or attorney, and make sure to accurately fill it out with all the required information. This form usually includes details such as the property address, buyer and seller information, the contingency being removed, and the date of removal.

05

Sign and submit the form: Once you have completed the Removal of Contingency form, sign it and submit it to the appropriate party. Typically, this form needs to be signed by both the buyer and the seller to ensure mutual agreement.

Who needs removal of contingency?

01

Buyers: Buyers may need to fill out a removal of contingency form if they are satisfied with the fulfillment of a specific contingency. For example, if a buyer had a financing contingency and has now secured a mortgage loan, they may want to remove the financing contingency from the contract.

02

Sellers: Sellers may also need to fill out a removal of contingency form, especially if they have requested specific contingencies in the contract. For instance, if the seller required an inspection contingency, they may want to remove it once the inspection has been conducted and any necessary repairs have been addressed.

It is important to note that the need for a removal of contingency may vary depending on the specific circumstances of each real estate transaction. Consulting with professionals and carefully reviewing the terms of the contract can help determine if and when a removal of contingency is necessary.

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