What is an example of a contingency clause in real estate?

Home Sale Contingency Transaction is contingent upon the successful closing of buyer's current property at 123 Main St (MLS#), currently listed, to be in contract no later than X/X/X, and closed on or before X/X/X.

US Legal Forms
Forms Kit
Real Estate
Multi-State
Contract for the Lease and Mandatory Purchase of Real Estate -...

Real Estate Contract Clauses Examples In Travis

Q: How do you write an as is clause in real estate?

Xx accepts the Property As-Is as of the date of the execution of this Agreement, without any warranties or representations from Seller regarding the use, condition or habitability of the Property.

Category:

Landlord Tenant - Residential Leases - Purchase Options

State:

Multi-State

County:

Travis

Control #:

US-00120

Format:

Instant download

This form is part of a form package!

Get all related documents in one bundle, so you don’t have to search separately.

View package

Description

The Contract for the Lease and Mandatory Purchase of Real Estate outlines the terms for leasing and purchasing property. Key clauses include the lease duration, rent obligations, and the conditions under which the purchaser can make alterations or improvements to the property. The form emphasizes tenant responsibilities, such as maintaining utilities and adhering to zoning laws, while also specifying that seller must disclose any lead-based paint hazards, particularly for properties built before 1978. It includes provisions for earnest money, purchasing price calculations, and remedies for default. The contract mandates written consent for subleasing and recognizes the rights of both parties concerning default actions. It serves as a legally binding document ensuring clarity and protection for both buyers and sellers. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate transactions, as it provides a comprehensive framework for property leasing and purchasing, addressing essential legal and liability aspects to safeguard their clients' interests.

Form landlord tenant sample form

View this form

Executive Summary

View this form

Exchange Rate Addendum

Services Contract - Therapist

View this form

Complaint for Medical Malpractice regardin...

View this form

Sample Letter for Acceptance of Job Offer ...

View this form

Letter of Recommendation Template for Scho...

View this form

Marketing Plan Template

View this form

Sample Letter for Authority to Enter Satis...

View this form

Form popularity

FAQ

The Five Elements of a Contract Offer. Acceptance. Consideration. Capacity. Lawful Purpose.

What Is a Contingency? A contingency is a potential occurrence of a negative event in the future, such as an economic recession, natural disaster, fraudulent activity, terrorist attack, or a pandemic.

Xx accepts the Property “As-Is” as of the date of the execution of this Agreement, without any warranties or representations from Seller regarding the use, condition or habitability of the Property.

Home Sale Contingency “Transaction is contingent upon the successful closing of buyer's current property at 123 Main St (MLS#), currently listed, to be in contract no later than X/X/X, and closed on or before X/X/X.”

Contingency Contract Examples If you fail to secure the financing within the stipulated period, either party may terminate the contract without any legal consequences. Another simple example is a child who agrees with their parent that they would receive a new bicycle if they receive an A in a specific class.

As explained, real estate contracts have clauses that outline the details of the transaction, including what each party is agreeing to and who has responsibilities in executing the sale. Most states have standardized agreements that have the necessary clauses included.