Contracts
A Connecticut buyer's offer includes a 'home sale contingency' that gives the buyer 45 days to sell their current home. The seller is concerned about being off the market. The seller may negotiate for a:
AHigher earnest money deposit
BKick-out clause (first right of refusal) allowing the seller to continue marketing and giving the buyer a short window to remove the contingency if another offer comes in✓ Correct
CExtension of the contingency period to 90 days
DThe seller cannot negotiate once they accept a contingency
Explanation
A kick-out clause (or first right of refusal) allows the seller to continue showing and accepting backup offers. If the seller gets another offer, the original buyer is notified and given a short period (usually 48-72 hours) to waive the contingency or allow the seller to accept the new offer.
Related Connecticut Contracts Questions
- Which type of listing allows the seller to sell the property themselves without owing the broker a commission?
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