When can a buyer present Addendum 38-4 Notice of Buyer's Termination of Contract to a seller?

A buyer can present Addendum 38-4 Notice of Buyer's Termination of Contract to a seller prior to the seller accepting the offer. This addendum is specifically designed as a notice that a buyer can use to terminate the contract under certain circumstances, provided it is within the appropriate time frame. The addendum allows the buyer to formally communicate their intent to withdraw from the transaction before the seller has formally accepted the contract.

This is significant because it provides flexibility for buyers who may reconsider their decision or find themselves in a situation where they no longer wish to proceed with the purchase before mutual acceptance has occurred. Understanding the timing of when this notice can be presented is crucial for both buyers and sellers in a real estate transaction, as it can impact the dynamics of negotiations and potential obligations.