Tuesday, January 03, 2012

Under Contract With a Kick Out...Sold or Is It?

 Under Contract With a Kick Out...Sold or Is It?

2301 Velvet Ridge Dr. Owings Mills, MD. 21117 Contemporary Rancher With Indoor Pool  is one of my all time favorite homes and it is under contract... contingent on the sale of the buyer's present home.

        2301 Velvet Ridge HomeRome 410-530-2400              2301 Velvet Ridge HomeRome 410-530-2400
 Wood ceilings and floors...so contemporary!                                    
Gourmet Kitchen with skylight!     


                                                         2301 Velvet Ridge  HomeRome 410-530-2400
 Indoor Swimming Pool

This is also known as a contingent contract with a kick out clause. What does that mean?     

The house shows up in the  MLS (multiple listing system) ' CONT/KO'  (Contract /Kick Out). 

The house can still be marketed and shown to other buyers and should there be another offer without a contingency, the first buyer is given a time limit to remove the contingency. If they cannot provide proof that they can move forward with the contract, the second buyers can proceed with the purchase... in other words...they "kick out" the first one.

 Velvet Ridge is Under Contract with a kick out..Sold Or Is It?

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