How Do I Remove Contingencies From The Purchase Agreement?
Articles on: Homepie
Homepie’s purchase agreement is set up such that you need to actively remove contingencies; they do not simply fall of once they expire. Instead, you will need to sign a separate document stipulating that you are removing the contingencies in question. If you need help with this, Homepie's Transaction Coordinator Service or Virtual Agent Service can assist with all necessary forms and contracts.
Once you remove any given contingency, you may not cancel the contract for a reason included in the contingency; if you do, you may be in breach of contract.
Note: If you live in a state where Homepie generates a memorandum of understanding (MOU) rather than a purchase agreement, then your purchase agreement may include "passive contingencies" which automaticaly fall off on a given date with no need to actively remove them in writing.
Updated on: 13/12/2023
Homepie’s purchase agreement is set up such that you need to actively remove contingencies; they do not simply fall of once they expire. Instead, you will need to sign a separate document stipulating that you are removing the contingencies in question. If you need help with this, Homepie's Transaction Coordinator Service or Virtual Agent Service can assist with all necessary forms and contracts.
Once you remove any given contingency, you may not cancel the contract for a reason included in the contingency; if you do, you may be in breach of contract.
Note: If you live in a state where Homepie generates a memorandum of understanding (MOU) rather than a purchase agreement, then your purchase agreement may include "passive contingencies" which automaticaly fall off on a given date with no need to actively remove them in writing.
Updated on: 13/12/2023
Updated on: 02/22/2024