What does active with kickout mean in real estate?

What is active kickout?

Definition of Active – Kick-out

“Active – Kick-Out” means that a Purchase and Sale Agreement requires the buyer to purchase only if the buyer is able to sell their current home. Talk to a real estate agent if you’re interested in a home listed as Active – Kick-Out. BACK TO GLOSSARY.

What does active under contract with kickout mean?

The kick out clause has advantages to both sides. It allows a buyer to find a house and put in under contract while the buyer tries to sell their house. It also allows the seller to continue showing the house to other buyers as a hedge against the first buyer not being able to sell their house.

What is a knockout in real estate?

A kick-out clause gives sellers the ability to continue marketing a house in the event that they receive an offer with contingencies, or conditions that must be met.

Can you make an offer on a house that is active contingent?

In most cases, putting an offer in on a contingent home is an option to consider. Although it doesn’t guarantee you’ll close on the home, it does mean you could be first in line should the current contract fall through. Putting an offer in on a contingent home is similar to the homebuying process of any active listing.

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What is active contingent?

Active contingent is one of the many status updates given to a property listing. If a property has an active contingent status, it means the seller has accepted an offer from a buyer. However, the home sale isn’t finalized yet because certain contingencies need to be met.

What is active option contract?

An active option contract means the seller has accepted an offer to sell their property. However, the transaction is in an option period, or inspection period. This is when a home inspection will occur. The buyer may back out of the purchase of the home.

What happens if a backup offer is made on a property when a kick out clause is in effect?

What happens if a backup offer is made on a property when a kick-out clause is in effect? If the new offer is better than the existing offer, the seller can choose to accept the new offer. The contracted buyers have a specified time to remove the home sale contingency and proceed with the purchase.

What is the difference between active contingent and active kick out?

Will expire on the original expiration date the agent entered. OPT Active Option Contract: Seller has accepted an offer but the Buyer is exercising the option period from the sales contract. … KO Active Kick Out: Property has an offer contingent upon the sale of another property by buyer.

How do you introduce yourself in real estate?

Hi {Agent first name}. This is {name}. We’ll be working together with {client first name last name} who we connected with via Realtor.com. I’ve already introduced myself to {home buyer} and will connect with you soon.

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