Extending the Listing Agreement

//Extending the Listing Agreement

Extending the Listing Agreement

SCR forms committee attempts to hold the number of forms to a minimum so there are some multi-purpose forms.

SCR390 addendum is the most multi-purpose form.

https://www.screaltors.org/wp-content/uploads/Forms/390.pdf

Note that the title of SCR390 can be changed by checking the box for contract or lease or fill in the blank (e.g. buyer agency, listing agreement, land deal, transaction brokerage).

Note that the signature lines have blanks to use with brokerage or tenant or other.

Say you need to extend your SCR220 ERTS listing agency agreement, simply check box other and writing in SCR220 and brokerage and seller sign after filling in the blanks filled in with the sentence from the SCR220.

For the period of time beginning on _____________ , and ending at midnight on
_______________, Owner hereby grants to Broker the sole and exclusive right to sell the real property known as:

Always try to use the whole sentence from whatever form you are amending.

A common argument can be avoided on a contract extension by using the whole sentence so there is no argument if the extension applies or not applies.

"Closing occurs when Seller conveys Property to Buyer and occurs no later than 5 pm on or before ___December 6 2018____ ("Closing Date") with an automatic extension of 5 Business Days for an unsatisfied contingency through no fault of either Party."

Posted by : Byron King on 10/31/18 (This information is only accurate as of 10/31/18. You must contact SCR for updates and changes to this information after 10/31/18 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)

By |2018-10-31T12:22:33+00:00October 31st, 2018|Legal FAQs|0 Comments

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