Contracts
A Nebraska purchase agreement that includes a provision allowing the seller to 'accept backup offers' while under contract must also inform the buyer that:
AThe primary contract is automatically canceled upon acceptance of a backup offer
BThe seller may continue marketing the property but is still bound by the primary contract's terms unless a kick-out clause applies✓ Correct
CThe buyer's earnest money is automatically forfeited
DThe seller may increase the purchase price if a higher backup offer comes in
Explanation
Accepting backup offers doesn't automatically void the primary contract. The seller is still bound by the primary contract's obligations. The primary buyer retains their rights unless a specific kick-out provision allows the seller to cancel.
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