Contracts
What is a 'home sale contingency' in a Delaware purchase contract and why do sellers sometimes reject it?
AA contingency requiring the home to pass a safety inspection
BA contingency making the purchase conditional on the buyer selling their existing home first — sellers may reject it because it creates uncertainty and delays, preferring buyers who don't need to sell a home first✓ Correct
CA contingency requiring the home to be professionally staged before closing
DA requirement that the seller purchase a new home within 30 days of closing
Explanation
A home sale contingency conditions the purchase on the buyer successfully selling their current home. Sellers may reject it or add a 'kick-out clause' allowing continued marketing and acceptance of backup offers. In a hot Delaware market, sellers often prefer buyers without a home sale contingency. The contingency period and kick-out terms are highly negotiable.
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