Contracts
In Tennessee, a 'kick-out clause' in a real estate contract allows the seller to:
ACancel the contract for any reason within 72 hours
BContinue marketing the property and accept a new offer if the buyer doesn't remove their contingency within a specified time✓ Correct
CKick out the buyer's agent from the transaction
DReduce the purchase price if the appraisal comes in low
Explanation
A kick-out clause allows a seller who has accepted a contingent offer to continue marketing the property. If a new, non-contingent offer is received, the seller gives the original buyer a specified time to remove their contingency or the seller may accept the new offer.
Related Tennessee Contracts Questions
- A Tennessee sales contract requires the buyer to obtain 'satisfactory' financing. This type of contingency is considered:
- A 'deed of correction' is used in Tennessee to:
- Which of the following best describes the legal concept of 'time is of the essence' in a real estate contract?
- In Tennessee, which clause in a purchase agreement allows the buyer to back out if they cannot secure financing?
- In Tennessee, which of the following would make a real estate contract unenforceable under the Statute of Frauds?
- In Tennessee, the remedy of 'specific performance' in a real estate contract dispute allows the court to:
- Which of the following is a valid legal description that could be used in a Tennessee deed?
- In Tennessee, an 'addendum' to a real estate contract is used to:
Practice More Tennessee Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Tennessee Quiz →