Clauses - Subject to Sale
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Buyer's own property to be sold The Buyers need to contract to sell their property at: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ for $_ _ _ _ _ _ _ _ _ _ by ___/___/___ and then settle that sale by ___/___/___. If these things do not happen, on time, then the Buyers can give notice cancelling this contract. (NOTES: When a person wants to buy a property, but first has to get a contract to sell their own property, this clause may be useful. The first date to be inserted in the clause is the date by which the Buyers have to enter a contract to sell their existing property. The second date to be inserted in the clause is the date for that contract to settle - and this would most often be the same settlement date as the contract on which the condition is being added.) |
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Buyers property sold - simultaneous settlement required The Buyers have a contract to sell their property at: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ and that sale needs to settle by ___/___/___ . If that sale doesn't settle on that date, or is cancelled earlier, then the Buyers can give notice cancelling this contract. (NOTES: This clause is used for a Buyer who has already sold their property - but where that sale has yet to settle.) |
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