Contracts
In Colorado, a property sale contract that contains a contingency requiring the buyer to sell their existing home first is called a:
AFinancing contingency
BHome sale contingency (or sale of other property contingency)✓ Correct
CInspection contingency
DAppraisal contingency
Explanation
A home sale contingency (sale of other property contingency in Colorado's Contract to Buy and Sell) makes the purchase conditional on the buyer successfully selling their current home. Sellers sometimes accept these but may retain the right to continue marketing and accept other offers with a 'kick-out' clause.
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