Contracts
An Iowa 'kick-out clause' in a home sale contingency gives the seller the right to:
AKick out the buyer if they do not pre-qualify for a loan
BContinue marketing the property and, if another acceptable offer is received, notify the buyer to waive the home sale contingency within a set period or have their contract terminated✓ Correct
CTerminate the contract without any notice
DIncrease the price if the buyer's home does not sell within 30 days
Explanation
A kick-out clause (also called a first-right-of-refusal or right-of-first-refusal release clause) allows the seller to continue marketing their property while the buyer's home sale contingency is pending. If another acceptable offer comes in, the buyer must waive the contingency or release the contract.
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