Navigating the Intricacies of Hubbard Clauses: A Comprehensive Guide
By Rob McConville, CT Shoreline Real Estate Expert
(Coldwell Banker Choice Properties)
In today's market, selling your home can be the easy part! The hard part can be finding a home. Historically, buyer's have been able to use what is called a hubbard clause. However, in this low inventory environment, there has been little incentive for sellers to accept this contingency. Below we will discuss the pros and cons.Understanding Hubbard Clauses:A Hubbard Clause, named after a legal case, is essentially a contingency clause added to a real estate contract. It allows a buyer to make an offer on a property while still trying to sell their existing property. The essence of this clause lies in providing a safety net to the buyer. It stipulates that the purchase of the new property is contingent upon the successful sale of the buyer's current property within a specified time f...
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