Addendum For Sale Of Other Property By Buyer
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Addendum For Sale Of Other Property By Buyer Form. This is a Texas form and can be use in Texas Real Estate Commission Statewide.
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PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC)
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
(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.
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 (http://www.trec.state.tx.us) TREC No. 10-5. This form replaces
TREC No. 10-4.
TREC No. 10-5