Select the contingencies for the sale.
The purchase of the Seller's property is contingent on the Buyer being able to sell
his/her property and close the deal. If the Buyer is unable to sell his/her property and close the deal, then this
offer to purchase the Seller's property can be cancelled.
Address of Buyer's property to be sold:
(e.g. 42 Evergreen Way, Santa Fe, New Mexico)
Date that Buyer must sell by:
(e.g. August 30, 2007)
A disclosure form provides the Buyer with information concerning the Property,
including any problems of which the Seller is aware. In some jurisdictions,
completion of a disclosure form is mandatory. However, in jurisdictions where
disclosure forms are optional, it is highly recommended that the Seller provide
the Buyer with a disclosure form to prevent any future liability on the part of
the Seller for known defects in the Property.
(e.g. mortgage or deed of trust loan)
Deadline to receive approval: (e.g. January 1, 2006)
(Third party approval means that someone who is not a party to the contract must
consent to the Offer before the transaction can proceed. This
person is typically either the Buyer's spouse, or the Buyer's attorney.)
Is the Buyer required to notify the Seller once third party approval has been obtained?
The sale is contingent upon an appraisal valuing the Property
for at least the amount of the purchase price. This contingency ensures that
the Buyer doesn't pay more for the Property than it is actually worth.
What repairs does the Buyer want completed?
(e.g. re-shingle the roof, re-seed the lawn in the backyard, repaint the basement, replace ensuite toilet, etc.)
The Property has been properly zoned for the purposes which
the Buyer intends to make use of the Property. For example, if the Buyer
intends to run a home business out of the Property's basement, then the Seller
will obtain proof that the zoning allows for such use of the basement.
The Seller will obtain and deliver to the Buyer copies of any certificates relating to local ordinances (e.g. keeping exotic animals, environmental protections, recycling, utilities, etc.).
The Seller will provide evidence to the Buyer that the title
to the Property is not subject to any encumbrances by other people. This is
usually accomplished through the use of a title search at the local recorder's