Contracts
In Massachusetts, a 'contingency to sell' clause in a Purchase and Sale Agreement allows the buyer to:
ACancel the contract anytime before closing for any reason
BTerminate the contract without penalty if they cannot sell their current home within a specified timeframe✓ Correct
CExtend the closing date indefinitely until their home sells
DRequire the seller to reduce the price if the buyer's home sells for less than expected
Explanation
A home sale contingency allows the buyer to terminate the P&S and recover their deposit if they are unable to sell their existing home within the agreed-upon timeframe. The seller may typically include a 'kick-out' clause allowing them to continue marketing during this period.
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