72-‐Hour Clause Clause Samples
The 72-Hour Clause is a contractual provision that allows one party, typically a seller, to continue marketing a property or asset even after accepting a conditional offer from a buyer. If the seller receives another offer, the original buyer is given 72 hours to remove their contingencies—such as financing or sale of another property—or forfeit their rights under the contract. This clause ensures the seller is not unduly restricted by a conditional offer and can secure a backup deal, thereby reducing the risk of a stalled transaction.
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72-‐Hour Clause. The Seller may continue to offer the property for sale despite the acceptance of this offer to purchase. If the Seller accepts another offer to purchase, he shall so notify the Buyer by any means providing evidence of the time of receipt, as soon as all the conditions of this new offer to purchase have been fulfilled, excluding the execution of the deed of sale and obtaining the cancellation of this offer to purchase. The Buyer shall then have seventy-‐two (72) hours from the receipt of such notice to inform the Seller in writing of his decision to:
i) cancel all conditions of this offer to purchase which have not yet been fulfilled, including, without limitation, the condition of sale of the Buyer’s property, and to provide proof that he has the necessary funds to cover the purchase price or an undertaking from a mortgage lender to grant him a loan without conditions; or
ii) cancel this offer to purchase. Should the Buyer fail to notify the Seller within the time period provided, this offer to purchase shall become null and void when that period expires.
72-‐Hour Clause. 31.1 This AGREEMENT is subject thereto that, for as long as any suspensive condition to this AGREEMENT as per 29 above remains unfulfilled, the SELLER will be entitled to continue the marketing of the PROPERTY.
31.2 In the event of the SELLER receiving an unconditional bona-fide offer from a third party whilst any suspensive condition to this AGREEMENT remains unfulfilled, the SELLER may, in his own discretion furnish the PURCHASER with a copy of the bona-fide offer. The date on which the copy of the bona-fide offer has been duly delivered to the PURCHASER, shall be deemed to be the date on which same was received by the PURCHASER.
31.3 The PURCHASER shall then have 72 (SEVENTY-TWO) hours from date and time of receipt of the bona-fide offer, to fulfill any outstanding suspensive condition to this agreement.
31.4 If the PURCHASER fails to fulfill any suspensive condition within the 72 (SEVENTY-TWO) hours as stipulated above, this agreement shall automatically be cancelled and the SELLER shall be entitled to accept the bona-fide offer from a third party.
72-‐Hour Clause. The Seller may continue to offer the property for sale despite the acceptance of this offer to purchase. If the Seller accepts another offer to purchase, he shall so notify the Buyer by any means providing evidence of the time of receipt, as soon as all the conditions of this new offer to purchase have been fulfilled, excluding obtaining the cancellation of this offer to purchase. The Buyer shall then have seventy-two (72) consecutive hours from the receipt of such notice to inform the Seller in writing of his decision to:
i) remove all conditions of this offer to purchase which have not yet been fulfilled, including, without limitation, the condition of sale of the Buyer’s property, and to provide an undertaking from a mortgage lender to grant him a loan without conditions or proof respecting the terms of paragraph 6.1.2 a); or
ii) render this offer to purchase null and void. Should the Buyer fail to notify the Seller within the time period provided, this offer to purchase shall become null and void when that period expires.