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Este addendum se utiliza cuando se cumple o se renuncia a una contingencia según los términos del Acuerdo de Venta. La parte que se beneficia de una contingencia inicia el uso de este addendum y selecciona las contingencias que han sido cumplidas o se están renunciando.

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How to fill out contingency removal addendum

01

Review the original purchase agreement and identify the contingencies that need to be removed.

02

Obtain the contingency removal addendum form from your real estate agent or legal advisor.

03

Fill in the address of the property and the names of the buyer and seller.

04

Clearly state which contingencies are being removed and provide any necessary details that support the removal.

05

Ensure both parties understand the implications of removing the contingencies.

06

Sign and date the addendum, ensuring that both the buyer and seller sign it.

07

Provide copies of the signed addendum to all parties involved and retain a copy for your records.

Who needs contingency removal addendum?

01

Sellers who want to confirm the sale process without pending contingencies.

02

Buyers who have fulfilled their contingencies and wish to move forward with the transaction.

03

Real estate agents facilitating the transaction to ensure all legal documents are completed accurately.

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What is contingency removal addendum?

A contingency removal addendum is a legal document used in real estate transactions to formally remove certain contingencies from a purchase contract, indicating that the buyer is waiving their right to certain conditions.

Who is required to file contingency removal addendum?

The buyer is typically required to file the contingency removal addendum once they decide to proceed with the purchase after satisfying the contingency conditions.

How to fill out contingency removal addendum?

To fill out a contingency removal addendum, the buyer must provide necessary details such as the property address, the specific contingencies being removed, and any relevant dates, along with their signature.

What is the purpose of contingency removal addendum?

The purpose of the contingency removal addendum is to officially notify all parties involved that specific conditions have been met or waived, allowing the transaction to proceed to closing.

What information must be reported on contingency removal addendum?

The information that must be reported on the contingency removal addendum includes the names of the parties involved, the property address, the specific contingencies being removed, and the date of signing.

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