A kick-out clause allows home sellers to market a home even when they receive an offer with contingencies. Buying and selling a home requires a good real estate team to iron out the details of a sale. When it comes to the best buyer, seller and investor tips, it pays to ask detailed questions. A solid real estate team helps you through the negotiation process. According to an articleby realtor.com, a buyer might see a kick-out clause in an agreement of sale.

Waiting for another home to sell

In Pinellas County, Florida, most homes sell fairly quickly, especially in the entry-level range. However, luxury homes sometimes take longer to sell. If a potential home buyer has to sell a current home before purchasing a next home, contingencies come into play. Most sellers can’t take a home off the market waiting for a potential buyer’s home to sell. However, sometimes they are willing to give a certain time frame. A clause often states the seller can market the home even under a contingent contract.

Putting a time limit on the arrangement

With most kick-out clauses, a seller gives the initial buyers about 72 hours to keep the contract alive or to remove the contingency. They can also decide to walk away from the purchase. After 72 hours, if the initial buyer walks away, the seller can begin accepting backup offers. Experts point out some sellers don’t take the risk of contingency plans. A seller who goes along with a contingent offer has more leverage during the period during which the contingencies have to be met.

Before buying or selling a home in Pinellas County, make sure you know the details of a sales contract. A good real estate agent helps you sort through specific language in the sales contract. When it’s time for closing, rely on International Title Partners, LLC. We help you close on a home in your own home or our Belleair Bluffs office. For more buyer, seller and investor tips, please contact us.