PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC)
04-23-07
ADDENDUM FOR
SALE OF OTHER PROPERTY BY BUYER
TO CONTRACT CONCERNING THE PROPERTY AT
(Address of Property)
A.
The contract is contingent upon Buyer's receipt of the proceeds from the sale of Buyer's property at
(Address) on or before
,
(the Contingency). If the
Contingency is not satisfied or waived by Buyer by the above date, the contract will terminate automatically
and the earnest money will be refunded to Buyer.
NOTICE: The date inserted in this Paragraph should be no later than the Closing Date specified in
Paragraph 9 of the contract.
B.
If Seller accepts a written offer to sell the Property, Seller shall notify Buyer (1) of such acceptance AND (2)
that Seller requires Buyer to waive the Contingency. Buyer must waive the Contingency on or before the
day after Seller's notice to Buyer; otherwise the contract will terminate automatically and the
earnest money will be refunded to Buyer.
C.
Buyer may waive the Contingency only by notifying Seller of the waiver and depositing $
with escrow agent as additional earnest money. All notices and waivers must be in writing and are effective
when delivered in accordance with the contract.
D.
If Buyer waives the Contingency and fails to close and fund solely due to Buyer's non-receipt of proceeds
from Buyer's sale of the Property described in Paragraph A, Buyer will be in default. If such default occurs,
Seller may exercise the remedies specified in Paragraph 15 of the contract.
E.
For purposes of this Addendum time is of the essence; strict compliance with the times for performance
stated herein is required.
Buyer
Seller
Buyer
Seller
This form has been approved by the Texas Real Estate Commission for use with similarly approved or promulgated contract
forms. Such approval relates to this form only. TREC forms are intended for use only by trained real estate licensees. No
representation is made as to the legal validity or adequacy of any provision in any specific transactions. It is not suitable for
complex transactions. Texas Real Estate Commission, P.O. Box 12188, Austin, TX 78711-2188, 1-800-250-8732 or (512)
459-6544 ( ) TREC No. 10-5. This form replaces TREC No. 10-4.
(TAR-1908) 4-23-07
Page 1 of 1
TREC No. 10-5
David Winans Real Estate 17734 Preston Road, Ste. 100 Dallas, TX 75252
Phone:
972-774-9888
Fax:
972-774-9191
David Winans Real Estate
Untitled
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