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CLAUSE LIBRARY

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  • BACK-UP CONTRACT - CONTINGENT UPON CANCELLATION OF PRIOR CONTRACT: ​Buyer acknowledges that Seller is currently obligated by a prior contract to sell Premises to another buyer. This is a back up Contract contingent upon cancellation of the prior contract. Seller retains the right to amend, extend, or modify the prior contract. Upon cancellation of prior contact, Seller shall promptly deliver written notice to Buyer. Upon Buyer's receipt of written notice of cancellation , Broker named in Section 8r shall open escrow and Buyer shall deposit any required earnest money. The date of Seller's written notice to Buyer shall be deemed date of Contract acceptance for purposes of all applicable Contract time lines. Buyer may cancel the back up Contract any time prior to receipt of seller's notice of cancellation of prior contract.

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  • ALL CASH SALE: Buyer shall provide Seller within _____days of Contract acceptance either a Letter of Credit or a Source of Funds Letter from a financial institution documenting the availability of fund so close escrow as agreed.

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  • APPRAISAL TO BE ORDERED AND COMPLETED with in ____ days of Contract acceptance. This deadline and clause is not subject to a Cure Period Notice and failure of Buyer or Buyer's Lender to complete the appraisal in this time line shall be considered a waiver of the Appraisal Contingency. This clause and its time line is not subject to a Cure Period Notice.

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  • SIGNATURE OF ABSENT BUYER SPOUSE OF CO-BUYER: Signing Buyer shall within five (5) days of acceptance of this Contract obtain the signature of the absent buyer spouse or co-buyer on the Contract or deliver a Disclaimer Deed to Escrow Company that eliminates the need for the absent signature.

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  • FINANCING COMMITMENT CONTINGENCY PERIOD shall superseded unfulfilled loan contingency as stated in section 2b and 2c of the Contract: This sale is contingent upon Buyer obtaining a satisfactory financing commitment. Buyer shall have the 30 days to obtain financing commitment, including appraisal value, satisfactory to Buyer in Buyer's sole discretion, for a loan to purchase the Premises or Buyer may cancel this Contract and receive a refund of the Earnest Money deposit. PRIOR TO THE EXPIRATION OF THE 30 DAYS TIME LINE, BUYER SHALL DELIVER TO SELLER AND ESCROW COMPANY NOTICE THAT BUYER HAS NOT RECEIVED SUCH SATISFACTORY FINANCING COMMITMENT OR BUYER SHALL BE DEEM TO HAVE WAIVED THE FINANCING COMMITMENT CONTINGENCY AND ANY RIGHT TO CANCEL DUE TO FINANCING. This clause and Buyer's notice is not subject to a Cure Period Notice.

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  • ESCALATION CLAUSE: Buyer is incorporating a Self Escalating Clause as part of this offer as follows: If the seller receives a higher priced competing offer while reviewing/negotiating this offer, the buyer agrees to increase the purchase price by $1000.00 over and above the competing offer not to exceed a total purchase price of $____. If seller exercises the acceleration clause, seller agrees to provide buyer with a copy of the competing offer that initiated this acceleration clause.

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  • (Clause to add to SPDS or Addendum if seller is providing copy of a Pre-Home Inspection or copy of prior home inspection). Seller is providing a copy of a prior home inspection as additional disclosure. Buyer agrees not to rely on this inspection and its information as it may be outdated. Buyer is encouraged to order their own certified home inspection.

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  • Seller agrees to close this transaction within ______ business days after receiving notice from Escrow that buyer has signed loan documents (or) deposited cash funds into Escrow needed to close this transaction.

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  • IF SELLER DOES NOT OFFER SPDS: Seller is to disclose all known facts regarding the property. As seller has worked and/or ordered work to be done, many known facts do exist and seller is to present buyer with SPDS and Clue report per contract lines 154-161. All receipts and warranties for work performed to be attached to SPDS.

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  • TAX-DEFERRED EXCHANGE: Seller/Buyer intend to enter into a tax-deferred exchange pursuant to I.R.C. §1031 or otherwise. All additional costs in connection with any such tax-deferred exchange shall be borne by the party requesting the exchange. The non-requesting party agrees to cooperate in the tax-deferred exchange provided that the non-requesting party incurs no additional costs and COE is not delayed. The parties are advised to consult a professional tax advisor regarding the advisability of any such exchange. The non-requesting party and Broker(s) shall be indemnified and held harmless from any liability that may arise from participation in the tax-deferred exchange.

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