Contracts (alternative)
In Maryland, a seller who accepts a contingent offer but continues to receive offers keeps them as:
ABinding backup contracts
BBack-up offers that are not binding until the primary contract is terminated✓ Correct
CCompeting primary contracts simultaneously
DOffers that must be presented to MREC
Explanation
Back-up offers in Maryland are held in reserve; they are not binding on the seller until the primary contract is terminated. If the primary deal falls through, the back-up buyer moves to primary position.
Related Maryland Contracts (alternative) Questions
- Rescission of a Maryland real estate contract means:
- In Maryland, a contract 'subject to the sale of the buyer's home' is an example of a:
- A Maryland buyer's agent who submits an offer electronically has satisfied the contract's requirement for a written agreement if:
- Maryland's Residential Property Disclosure is NOT required for which of the following transactions?
- In Maryland, a 'subject to financing' contingency in a buyer's offer protects the buyer if:
- A Maryland seller who inserts a 'kick-out clause' in an accepted offer with a home sale contingency means that:
- Under Maryland law, an option contract in real estate gives the optionee the right to:
- A Maryland new construction contract typically includes a specification sheet that:
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