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- The bump clause, also known as the "kick-out clause," is a real estate contract provision allowing the seller to continue marketing the property even after accepting a contingent offer. This contingent offer typically arises when the original buyer makes an offer on the seller's property.
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Jun 15, 2021 · 40 Common Real Estate Abbreviations and Acronyms. Written by MasterClass. Last updated: Jun 15, 2021 • 7 min read. The real estate industry uses several unique acronyms and abbreviations. Understanding these terms can be beneficial for buyers and sellers.
- How to Use This Glossary of Real Estate Terms and Abbreviations
- Glossary of Real Estate Terms and Abbreviations
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Mac users: hold command + F to search for a real estate term Windows users: hold control + F to search for a real estate term
Absentee landlord:An owner or sub-lessor who does not reside in the place or area in which he/she owns real estate from which he/she derives rental income. Abstract of auction:A summary of the auction advertisements which appears in the property page of a newspaper. Abstract of title:A chronological summary of conveyances, mortgage or leases and ot...
Nov 13, 2023 · Whether you’re a veteran agent or a rookie hoping to sound authoritative during your first transaction, you need to be able to succinctly explain common real estate terms and definitions to your clients. Even if you know every one of the 136 real estate terms on this list and how to use them, your clients expect you to be their interpreter.
Jan 19, 2021 · Bump Clauses: What are they and how to use them to your advantage. Bump Clause is one of those real estate terms that you may come across in a potential listing and think that it indicates a risk. As a broker, a bump clause can be a win-win for all parties involved.
Feb 12, 2024 · A real estate bump clause lets sellers enter into a contract with a potential buyer while reserving the right to continue marketing their property. If the seller gets a better offer, either more money or fewer contingencies, they’re allowed to “bump” the first buyer.
Jun 15, 2023 · Learn the meaning of "bumpable buyer" in real estate, as well as bump clauses, which allow buyers to make a contingent offer on a home.
