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[Music] today I just want to give you a couple of reminders about how the addendum for sale of other property by buyer and its kickout Provisions work clearly a contract contingent on the sale of buyers current residence is not very favorable to a seller however there are two viable reasons we may see the addendum attached to more purchase offers first the new contract requires a buyer who will be using proceeds from the sale of his current home for the down payment to disclose that fact to the seller since there is a promulgated form dealing with the issue of cell of buyers current residents and the law requires agents in Texas to use promulgated forms a disclosure that some or all of the cash down payment is coming from the proceeds from a sale will necessarily be in the form of the addendum for sale of other property by buyer second if the buyer submits an offer contingent on financing the section of the third party financing addendum covering buyer approval has a built-in sale cont
