Kauai Real Estate - Purchase Contract changes - August 2024 (Part II)

In this insightful episode of the Kauai Real Estate podcast, let’s deep dive into the changes in the August 2024 release of the newest Hawaii Real Estate purchase contract. Join Jamie as she breaks down both the smaller changes and the significant modifications. Key topics include the introduction of new clauses, adjustments to existing terms, and the impact these changes will have on transaction timelines and contingencies. This episode is essential listening for anyone involved in the Kauai real estate market, hoping to help agents, buyers, and sellers navigate the new contract landscape confidently. This is part two of a multi-part series.

 

A quick correct, section F-3 (a) Unilateral Right to Extend allows one party to extend all or part of the number of days by delivery of written notice. Should any days remain EITHER party may elect to extend that number of days. In the podcast, I indicated that if a buyer used part (ie 7 of 10 days) that the seller could use the remaining 3 days when, in fact, the contract states "then either party has the unilateral right to extend the Closing Date for any unused portion".

 

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