When a Home Buyer Backs Out
When you are selling your home - and you have to wait until the sale of the prospective buyers’ own home sale – the wait can be excruciatingly long. After waiting weeks or even months sometimes these deals fall through.
The best way to protect yourself from this heartbreak is to include a kick-out clause in the agreement. The kick-out clause will allow you the seller to keep your home on the market while
you wait for the sale to be completed.
If another
buyer makes an offer while you are waiting for this sale, the first buyer has a grace period of 48 hours to decide if s/he
still want to buy the house or not.
This kick-out
may save you the time of putting your house back on the market if the original deal falls through.
