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Old 01-25-2002, 12:05 PM
QuinnD
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contingency questions

i have an accepted offer for the purchase of a home in san diego ca with the contingency on selling my current home (neccessary for down payment and loan) which i also have an excepted offer. The seller has place a contingency that if they recieve a better offer i will have 72 hours to remove the contigency on selling my current home. We are now entering esrow and my concern is that the if the sellers recieve a better offer and i dont close on my current home within 72 hours of that time i will be left homeless. is it legal for the seller to continue to accept offers? thanks for any advice/info!
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Old 01-25-2002, 12:16 PM
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Join Date: May 2000
Location: Catatonic State
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Yes, it is legal for the Seller to continue to accept offers.
Let me clarify one issue. The 72 hours contingency is for the removal of said contingency and not to close in 72 hours. If you agreed to a closing date of 30, 60 or more days, the contract could still be valid even with the contingecy removed.
I hope you are using a Realtor or real estate attorney to help you.
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