Contracts
A purchase contract contingent on the buyer selling their current home is known as a:
AFirst right of refusal
BContingency for sale of buyer's property✓ Correct
CSubject-to clause
DSubordination clause
Explanation
A contingency for sale of buyer's property (sale contingency) makes the purchase conditional on the buyer successfully selling their existing home. The seller may typically continue marketing the property and may give the buyer notice to remove the contingency.
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