The offer to purchase is a legally binding written obligation entered into by both parties which, under general contract law, should have all the legal requirements to be enforceable.
There are clauses and phrases within the real estate contract that protect the seller when selling and the buyer when buying. If the standard clauses and phrases that are already in the offer to purchase, do not quite protect the interest of the buyer or seller, then it is common for additional clauses and phrases to be added.
What does it Mean to 'Remove the Conditions'?
Some of the clauses and phrases are also known as conditions. The conditions within the offer to purchase are always agreed upon by both, the buyer and the seller, and should be clearly written and understood by anyone who reads the contract.
All the conditions within the offer to purchase will have a specific date and time to which the parties must ensure that the conditions have been completed or satisfied. Usually the buyer imposes the majority of the conditions within the offer.
In most situations, the buyer is responsible to remove the conditions that they imposed within the accepted offer. To remove the conditions means that the party who imposed the condition, usually the buyer, must communicate to the other party, usually the seller, that the obligation has been fulfilled and satisfactorily met.
What Happens if the Buyer Doesn’t Remove their Conditions?
It is not difficult for the buyer to remove conditions within an offer, but it is an important step because if it is not handled correctly the deal could collapse.
The purpose of this section is to provide the buyer and the seller as much detailed information as possible so there is a clear understanding what needs to happen to remove those conditions. Soldplicity will give many examples to clearly show how easy it is so buyers and sellers will not lose any more deals!
Soldplicity has provided for your purchase, tips on how sellers can assist in removing conditions, and a detailed account of the procedure to removing your conditions.
In addition, Soldplicity also created a document for you to use which allows either sellers or buyers to provide written notice to any seller advising them of the removal of conditions; sell your home with confidence!
Available at our Store: Remove the Conditions - $0.99
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