The 72-hour clause

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The 72-hour clause

The 72-hour clause

When a buyer has a house to sell before they can purchase another home, most sellers insist on a 72-hour clause. In the event of a better offer coming in before the contingency is settled, this clause entitles the seller to give the buyer 72 hours to remove the contingency or lose the house.

RELATED TERMS
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Offer
A proposal to purchase property at a specified price and terms.

Contingency
A requirement in a contract that must occur before that contract can be finalized.

SIMILAR TERMS
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The Fed
Congress founded the Federal Reserve Board, the central bank of the United States, in 1913. It conducts the nation's monetary policy and regulates its banks in order to achieve a flexible and stable economy.

The Wrekin property
Property in The Wrekin, Great Britain. Apartments, flats, houses, offices and other property in The Wrekin.

PREVIOUS AND NEXT TERMS
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Terrace
A terrace can be several things: an unroofed paved area right next to a house; a roofed balcony; a veranda; or a raised bed of earth constructed to enhance a landscape.

Testamentary trust
A trust established by will.

Testate
Having made a will before death.

Testator
A male who has made a valid will.

Testatrix
A female who has made a valid will.

The 72-hour clause

The Fed
Congress founded the Federal Reserve Board, the central bank of the United States, in 1913. It conducts the nation's monetary policy and regulates its banks in order to achieve a flexible and stable economy.

Thermal mass
Thermal mass is a property that enables building materials to absorb, store, and later release significant amounts of heat.

Third party origination
A process by which a lender uses another party to completely or partially originate, process, underwrite, close, fund, or package the mortgages it plans to deliver to the secondary mortgage market.

Third party originator
Third-party originators prepare loan applications for borrowers and submit the applications to lenders.

Thirteenth Amendment to the United States Constitution (1868)
Section 1- Neither slavery nor involuntary servitude, except as a punishment for crime whereof the party shall have been duly convicted, shall exist within the United States, or any place subject to their jurisdiction. Section 2- Congress shall have power to enforce this article by appropriate legislation.

This dictionary contains 6433 terms.

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