A buyer submits an offer on a Florida property with a contingency that they must sell their current home within 60 days. The seller accepts but includes a 72-hour kick-out clause. After 30 days, another buyer makes a non-contingent offer. What must happen next according to Florida contract law?
Correct Answer
B) The seller must notify the first buyer, who has 72 hours to remove the contingency or lose the contract
Correct: B - With a 72-hour kick-out clause, the seller must notify the first buyer of the new offer, giving them 72 hours to remove their sale contingency or the contract can be terminated. Why not A: The first buyer doesn't automatically lose rights; they must be given notice and opportunity to remove the contingency. Why not C: The kick-out clause specifically allows for this situation. Why not D: Only one contract can be primary; the kick-out clause prevents simultaneous contracts.
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