Common use of Buyer Acknowledgment Clause in Contracts

Buyer Acknowledgment. In a typical real estate market, a buyer will usually include several contingencies with their offer such as financing, inspection, title, etc. A buyer will also typically have a statutory right of termination arising from receipt of a seller disclosure statement or resale certificate. These are just a few of the more commonly used contingencies that permit a buyer to terminate a contract and receive a refund of any xxxxxxx money. While removal of contingencies may be attractive to a seller and aid in the buyer’s offer being accepted in a multiple offer situation, buyers are advised to consider the risks they are taking by not including contingencies in their offer and waiving statutory termination rights. Xxxxxx are advised to consult an attorney prior to making an offer without typical contingencies.

Buyer Acknowledgment. In a typical real estate market, market a buyer will usually include several contingencies with their offer such as financing, inspection, title, etc. A buyer will also typically have a statutory right of termination arising from receipt of a seller disclosure statement or resale certificate. These are just a few of the more commonly used contingencies that permit a buyer to terminate a contract and receive a refund of any xxxxxxx money. While removal of contingencies may be attractive to a seller and aid in the buyer’s offer being accepted in a multiple offer situation, buyers are advised to consider the risks they are taking by not including contingencies in their offer and waiving statutory termination rights. Xxxxxx are advised to consult an attorney prior to making an offer without typical contingencies.