SECURE THE BEST OFFER FOR YOUR PROPERTY WITH THE 72-HOUR CLAUSE

Secure the best offer for your property with the 72-hour clause

When selling your home, it’s important to understand the 72-hour clause, also known as the continued marketing clause. This provision allows you, the seller, to keep marketing your property even after accepting an offer that includes certain conditions like the buyer needing to sell their current home or secure financing.

Why is the 72-hour clause important?

Accepting a Conditional Offer: You receive an offer from a buyer, but it’s contingent upon them meeting specific conditions (e.g., selling their property or obtaining a loan).

Continued Marketing: With the 72-hour clause in place, you can continue to show and market your property to other potential buyers.

Receiving a Better Offer: If another buyer presents a more favorable, unconditional offer (one without suspensive conditions), you can consider this new offer.

Notifying the Original Buyer: You must inform the first buyer in writing that you’ve received a better offer. They then have 72 hours to:

• Waive Their Conditions: Proceed with the purchase without relying on the initial conditions (e.g., buying without selling their current home).
• Fulfill the Conditions: Meet the necessary conditions within the 72 hours.
• Withdraw: Decide not to proceed with the purchase, allowing you to accept the new offer.

Outcome:

• If the original buyer waives or fulfills the conditions in time, the sale proceeds with them.
• If not, the initial agreement becomes void, and you can accept the new offer.

Benefits:

• For Sellers: This clause prevents your property from being tied up indefinitely by a conditional off er, allowing you to pursue better opportunities.
• For Buyers: It encourages prompt action to meet conditions, knowing that the property remains on the market.

Considerations:

• Clear Communication: Ensure all parties understand the terms of the 72-hour clause to avoid confusion.
• Professional Guidance: Consult with a real estate attorney to navigate the specifics of this clause effectively.

Understanding the 72-hour clause can help you make informed decisions during the selling process, protecting your interests and facilitating a smoother transaction. Contact us for a free review of your off er to purchase when you receive an offer on your property.