What is a Contingency with Kick-Out Clause? January 2012 http

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Peggy Lyda, REALTOR®
Waddell Realty Company, LLC
#1 Bradley Park Court
Columbus, Georgia 31904
Office 706-653-1400
Cell 706-662-9910
sandpeg@bellsouth.net
www.lydaenterprises.com
What is a Contingency with Kick-Out Clause?
January 2012
Q: An offer has been made on our house, and the offer contains a contingency with a kick-out clause. What does
this mean?
A: Usually a Contingency with Kick Out clause within an offer contract means that the buyer must first sell their
current home before purchasing the new home. The seller reserves the right to continue accepting offers. If a more
attractive offer comes in before the contingency is removed, the owner can give the first buyer a certain amount of
time (usually 24 to 72 hours - depending on the contract term) to remove that contingency. If the first buyer does
not remove the contingency by said time, then the seller can cancel the contract with the first buyer and accept the
contract with the second buyer.
As with any real estate contract, you are advised to engage a Realtor's service to represent your interests.
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Thank you for reading my newsletter. I hope you found something in its content that
informed you. The views expressed in this newsletter are my own and do not
represent the views of any other agent or broker of Waddell Realty Company LLC.
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REALTOR®