Contracts
A 'bump clause' in a purchase contract allows the seller to:
AIncrease the asking price after receiving an offer
BContinue marketing and accept a better offer, giving the original buyer notice to remove contingencies or release their earnest money✓ Correct
CDelay closing by up to 30 days without penalty
DRequire the buyer to increase their earnest money deposit
Explanation
A bump clause (or kick-out clause) allows the seller to continue marketing the property after accepting a contingent offer. If a better offer arrives, the seller can notify the first buyer, who has a specified time to remove their contingencies — or be 'bumped' by the new offer.
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