Another one! Welcome to another episode of Real Estate Alphabet Soup where we understand more about real estate one letter at a time. For this entry, we're now at letter K.
K for Kick-Out Clause
Kick-out clauses are like clauses where one party can give a notice either to remove the contingency in place or to avoid the contract. In my experience, the common one in the DMV area we see is the home of choice or home of sale contingency where the buyer won't purchase a home until they sell their home, or the other way around -- where the seller will not sell you the home until they find another home of their choice.
These situations might need the attention of a professional in the real estate business. In case you encounter any of these situations, make sure to keep in touch with your realtor to get some advice and identify your next steps.
Have you ever encountered these contingencies before? Do you need help with kick-out clauses? Let's team up! Call me at 703-625-4949 or email at info@enovahomes.com. Make your move today!
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