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CLOSING – DISCLOSURE – CONDITIONAL RELEASE

Make a conditional release agreement prior to selling the property to a buyer

Would you like to prepare a Closing – Disclosure – Conditional Release agreement? Then you either have to hire a professional and experienced lawyer or download the professional format of this agreement from online. Generally, downloading this form from online would help you to save money and prepare the agreement right at your home. This is the agreement prepared between the buyer and seller, when the seller agrees to sell his/her property. Ideally, this Closing – Disclosure – Conditional Release agreement states that you are voluntarily agreeing to sell your property to the respective buyer. This agreement should include all the terms and conditions to elude the conflicts between the buyer and seller regarding amount, date, etc. In this agreement, the amount that the buyer would like to pay to the seller has to be included clearly.

Moreover, along with this agreement, you should also prepare a promissory note that includes the amount of the property and the amount being paid to the seller and remaining amount to be paid. Both the seller and buyer has to go through all the terms and understand them clearly before signing the agreement. Ideally, this agreement would stand as a proof for both buyers and sellers in case of any conflicts in the near future. Moreover, breach of this agreement by any of the parties, will give rights to the other party to file a lawsuit against them. However, in case, if the seller fails to comply with the terms, then the seller has to pay the amount the buyer has invested from the beginning of the deal along with losses. This agreement has to be signed by both parties, including the witness.

 

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