Know Thy Addenda
Subject to Sale of Buyers Residence
1. SUBJECT TO SALE CONDITION. Buyer's obligation to purchase the Property IS CONDITIONED upon the closing of the sale of Buyer's property located at: ("Buyer’s Property") by 5:00 P.M. (Mountain Time) on the
("Buyer's Closing Deadline"). If the closing of the sale of Buyer's Property does not occur by the Buyer's Closing Deadline, Buyer may, within four (4) days after the Buyer's Closing Deadline, cancel the REPC by providing written notice to Seller. In the event of such cancellation, the Earnest Money Deposit shall be released to Buyer. This condition is referred to below as the "Subject to Sale Condition".
2. BUYER'S DISCLOSURE. Buyer's Property currently listed for sale through a real estate brokerage. If listed, the names of the Seller's agent and Seller's brokerage are as follows:
3. ADDITIONAL TERMS (Check Applicable Box). If neither box is checked below, this section 3 shall not apply.
|A.||Buyer's Property IS currently under contract with a purchaser (a "3rd Party Contract").
(1) The Settlement Deadline in the 3rd Party Contract is the
. That Settlement Deadline MAY NOT be extended without the prior written consent of Seller.
|B.||Buyer's Property IS NOT currently under contract with a purchaser.
(1) Buyer shall have until the
to enter into a 3rd Party Contract with a purchaser (the "3rd Party Contract Deadline"). If Buyer has not entered into a 3rd Party Contract by that deadline, Seller or Buyer may cancel the REPC by providing written notice to the other party no later than four (4) days after the 3rd Party Contract Deadline; whereupon the Earnest Money Deposit shall be returned to Buyer without the requirement of further written authorization from Seller.