Contracts
A 'subject to' clause in a Nebraska real estate offer means:
AThe property is being sold subject to existing liens without assumption by the buyer
BThe offer is contingent on a stated condition being met✓ Correct
CThe buyer agrees to accept the property as-is
DThe contract is subject to review by the buyer's attorney for 5 days
Explanation
'Subject to' clauses create contingencies — the purchase is conditional on a specified event (inspection approval, financing, sale of buyer's home). If the condition is not met, the contract may be voided.
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Key Terms to Know
Contingency
A condition in a purchase contract that must be satisfied before the sale can proceed to closing.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
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