QUESTION
What exactly does a 72 hour contingency mean on a real estate transaction mean
Asked on Feb 20th, 2017 on Real Estate - Michigan
More details to this question:
Does the contingency mean that the seller only has to give the buyer 72 hours to determine if they want to proceed with the sell of a property, if so how is the purchaser protected?
1 ANSWER
Administrative Law Attorney serving Ann Arbor, MI
at
David J. Hutchinson
Update Your Profile
You havently given enough information for a complete answer, but such clauses are usually used when the buyer has contingencies like selling another home. If the Sell finds another buyer willing to either pay more or not have such a contingency, the original Buyer has 72 hours to decide whether to waive the contingency or lose the deal. Good Luck.
Answered on Feb 21st, 2017 at 6:48 AM