Contracts
An Ohio purchase contract states the buyer's obligation to purchase is 'contingent upon the buyer selling their current home.' This is called a:
ARight of first refusal
BHome sale contingency✓ Correct
CDue diligence period
DEscalation clause
Explanation
A home sale contingency makes the buyer's obligation to purchase conditional on the successful sale of their current home. The seller typically has the right to continue marketing (with a kick-out clause) or to set a deadline.
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