Contracts
A Florida seller receives an offer from a buyer containing a contingency for the sale of the buyer's current home. The seller can best address this uncertainty by:
ARejecting the offer since contingent offers are too risky
BAccepting the offer and including a 'kick-out' or 'release' clause allowing the seller to continue marketing✓ Correct
CRequiring the buyer to close on both properties simultaneously
DReducing the price to offset the risk of the contingency
Explanation
A 'kick-out' clause allows the seller to continue marketing the property after accepting a contingent offer. If the seller receives another acceptable offer, the original buyer is given a specified time (typically 24-72 hours) to remove the contingency (or waive it and proceed without it) or release the seller. This protects the seller from being stuck in a contingent deal indefinitely.
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