Jonathan Weiner
So-called “kick-out clauses” are becoming more coming in real estate deals these days, with sellers often insisting on it due to their privileged position, with their homes attracting multiple offers.
A kick-out clause is a contingency in a purchase agreement that enables the seller to continue to offer their home for sale even after a bid has been accepted. Should they receive a better offer, they can then back out of the deal and accept the new bid instead. The clause has traditionally been added when buyers have a contingency in their offer, such as the need to sell their own home first in order to complete the purchase.
Subscribe to our Newsletter
The best content delivered directly to your inbox.
