My husband and I recently signed a contract on a home. It is contingent on the sale of our home with a 48 hour kick out clause. Our current home is under contract and a closing date is scheduled. We received notification this morning that the sellers of our new home have decided to exercise the kick out clause. My contract states if given notification, I have the right to remove the contingency. But,in their notification they are asking us to remove the contingency and ALSO to provide a letter from our lender stating that we can qualify for their home without selling ours. In our minds by adding this stipulation (of course we wouldn't be able to qualify to hold two mortgages) they are not allowing us to exercise our right to remove the contingency. Is this legal? It doesn't seem fair. Why does the contract even bother stating we have the right to remove the contingency then? Next thing you know they could say we have to remove the contingency and paint the house purple? Do you see what I mean? How can they keep making demands???????
[Edited by RobinJ on 04-05-2001 at 03:06 PM]