Get your Addendum for Sale of Other Property by Buyer in 3 easy steps
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01 Fill and edit template
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02 Sign it online
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03 Export or print immediately
What Is an Addendum for Sale of Other Property by Buyer Form?
A TREC addendum for sale of other property by buyer is a legal document used in real estate transactions. This form allows the buyer to specify that the purchase of the property is contingent upon the sale of another property. The addendum for sale of other property by buyer Form is often used when the buyer needs the proceeds from the sale of another property to purchase the property being sold.
Additionally you should remember this form is not a standard form included in real estate contracts. Instead, it is a separate document that must be signed by both the buyer and seller to become part of the purchase agreement.
How To Fill Out the Addendum for Sale of Other Property by Buyer Online
Filling out the addendum for sale of other property by buyer pdf form online is simple. Here are the steps you ought to follow:
- Obtain the addendum for selling other property by buyer form: The form can be obtained from a real estate agent, an attorney, or online.
- Fill in the Buyer's Name: Enter the buyer's name in the space provided.
- Fill in the Property Address: Enter the address of the purchased property.
- Specify the Other Property: Specify the property the buyer is selling to purchase the property being sold.
- Fill in the Sale Price: Enter the sale price of the other property.
- Fill in the Closing Date: Enter the anticipated closing date for the sale of the other property.
- Specify the Deadline: Specify the deadline by which the sale of the other property must be completed.
- Sign and Date the Form: Finally both the buyer and seller must sign and date the Addendum for Sale of Other Property by Buyer Form.
What Should the Addendum for Sale of Other Property by Buyer Include
The addendum for sale of other property by buyer form template ought to include the following:
- Buyer's Name: Buyer's name should be clearly stated on the template
- Property Address: Address of the purchased property should be clearly stated
- Other Property: Property the buyer is selling to purchase the property being sold should be clearly specified
- Sale Price: Sale price of the other property
- Closing Date: Anticipated closing date for the sale of the other property should be clearly stated
- Deadline: Clearly specify the deadline by which the sale of the other property must be completed
- Signatures: Both the buyer and seller must sign and date the Addendum for Sale of Other Property by Buyer Form.
When to Request the Addendum for Sale of Other Property by Buyer Form
Nowadays the addendum for sale of other property by buyer Form should be requested when the buyer needs the proceeds from the sale of another property to purchase the property being sold. Here are a few situations in which the addendum for sale of other property by buyer Form may be necessary when:
- buyer uses the equity in another property to make a down payment on the purchased property
- buyer uses the proceeds from selling another property to pay off an existing mortgage
- buyer uses the proceeds from the sale of another property to pay for renovations or repairs on the purchased property
Form Addendum for Sale of Other Property by Buyer Popular Questions
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Can you sell your house if you have an addendum for sale of other property by buyer?
Yes, you can sell your house even if you have an addendum for the sale of other property by the buyer. The addendum document only applies to the sale of the buyer's property and hasn't influenced your opportunity to sell your own property.
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Fillable online Addendum for Sale of Other Property by Buyer