Common use of SALE OF BUYER’S PROPERTY Clause in Contracts

SALE OF BUYER’S PROPERTY. ❑ This Agreement is contingent upon the sale and settlement of the BUYERS’ property locally known as on or before , 20 . If settlement has not been made by this date, the SELLERS may rescind this Agreement by giving notice to BUYERS that unless sale and settlement of BUYERS’ property is made within five (5) business days of such notice, then this Agreement shall be null and void. Unless SELLERS give such written notice, this Agreement shall remain valid until the sale of BUYERS’ property.‌ 1. SELLERS reserve the right to continue to offer the Property for sale. Should SELLERS receive another offer which they desire to accept, BUYERS shall have hours from the delivery of written notice to waive the “contingency of sale.” Notice from the BUYERS to the SELLERS, removing the contingency of sale, shall be timely delivered to the SELLERS along with written verification of BUYERS’ financial ability to complete the purchase without the sale of the property referenced above. 2. If BUYERS do timely remove such contingency, this Agreement will remain in full force and effect (but without being contingent on the sale of BUYERS’ property). If BUYERS do not timely remove such contingency, XXXXXXX will immediately return to BUYERS all xxxxxxx money paid, this Agreement will be of no further force and effect, and neither party will have any further obligation to the other hereunder.

SALE OF BUYER’S PROPERTY. ❑ This Agreement is contingent upon the sale and settlement of the BUYERS’ property locally known as on or before , 20 . If settlement has not been made by this date, the SELLERS may rescind this Agreement by giving notice to BUYERS that unless sale and settlement of BUYERS’ property is made within five (5) business days of such notice, then this Agreement shall be null and void. Unless SELLERS give such written notice, this Agreement shall remain valid until the sale of BUYERS’ property.‌ 1. SELLERS reserve the right to continue to offer the Property for sale. Should SELLERS receive another offer which they desire to accept, BUYERS shall have hours from the delivery of written notice to waive the “contingency of sale.” Notice from the BUYERS to the SELLERS, removing the contingency of sale, shall be timely delivered to the SELLERS along with written verification of BUYERS’ financial ability to complete the purchase without the sale of the property referenced above. 2. If BUYERS do timely remove such contingency, this Agreement will remain in full force and effect (but without being contingent on the sale of BUYERS’ property). If BUYERS do not timely remove such contingency, XXXXXXX SELLERS will immediately return to BUYERS all xxxxxxx money paid, this Agreement will be of no further force and effect, and neither party will have any further obligation to the other hereunder.