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The 72-hour clause is a seller contingency which allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the seller to continue to market the property. The 72 hour clause is usually written into sales contracts by the seller, this allows a seller to keep the home on the market and accept backup offers ...
A financing contingency might need to be met within 30 days to get final loan approval. If you’re not sure about something or you need more time to complete a contingent task, ask your real ...
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As may be the case with other contracts, real estate contracts may be formed by one party making an offer and another party accepting the offer. To be enforceable, the offers and acceptances must be in writing (Statute of Frauds, Common Law)and signed by the parties agreeing to the contract. Often, the party making the offer prepares a written ...
As a general rule, all offers are revocable at any time prior to acceptance, even those offers that purport to be irrevocable on their face. In the United States , an exception is the merchant firm offer rule set out in Uniform Commercial Code - § 2-205, which states that an offer is firm and irrevocable if it is an offer to buy or sell goods ...
No contingency needed: Rather than place a contingency on your new home purchase that your old home must sell for financial reasons, a bridge loan provides the funds to settle on your new home ...
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