Contracts (alternative)
In Maryland, a contract 'subject to the sale of the buyer's home' is an example of a:
AKickout clause
BHome sale contingency✓ Correct
CFinancing contingency
DAppraisal contingency
Explanation
Making a purchase 'subject to the sale of the buyer's current home' is a home sale contingency — the buyer's obligation to purchase the new home is conditioned on successfully selling their existing home.
Related Maryland Contracts (alternative) Questions
- A Maryland buyer's offer that is accepted by the seller creates a:
- In Maryland, the primary purpose of the settlement statement (Closing Disclosure or HUD-1) is to:
- A Maryland purchase agreement includes an 'as-is' clause. This means the buyer:
- A Maryland installment land contract (land contract or contract for deed) differs from a standard sale because:
- In Maryland, which party typically pays the buyer's closing costs associated with obtaining a mortgage?
- In Maryland, an exclusive agency listing differs from an exclusive right to sell because:
- A Maryland contract of sale contains a financing contingency with no specific deadline. This is:
- In Maryland, a purchase contract contingent on the sale of the buyer's home can be made more attractive to the seller by including a:
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