When your seller accepts an offer that’s contingent on the sale of the buyer’s current home, there’s always the chance a better offer will come in. Under the terms of the Addendum for Sale of Other Property by Buyer (TAR 1908, TREC 10-6), if the seller accepts another written offer, she can require the buyer to waive his contingency. Otherwise, the first contract will terminate with the earnest money being refunded to the buyer. A form exclusively for Texas REALTORS® is available for this situation: Notices Regarding Contingency Under Addendum for Sale of Other Property by Buyer (TAR 1912). This notice informs the buyer that the seller has accepted another offer and that the buyer must now waive the contingency and deposit additional earnest money with the escrow agent or the contract will terminate.
This is one of 136 forms available only to Texas REALTORS®. Find all your forms on zipForm and at texasrealestate.com/realtorforms.