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KO Active Kick Out: Property has an offer contingent upon the sale of another property by buyer. The seller requests no further showings and does not want to entertain backup offers. Pending listings do not expire and will stay pending until closed.
What is active kickout?
According to the MetroTex Association of Realtors, the description of Active Kick Out, or KO, status is: “Property has an offer contingent upon the sale of another property by buyer. Still available for showings and backup offers. Will expire on the original expiration date the agent entered.”Mar 10, 2020.
What does active with kickout mean in real estate?
A kick-out clause often comes as a part of a home sale contingency, which means that the buyer is willing to buy the home, permitting selling their existing property. However, if a seller gets a better offer, they can “kick out” the first buyer and still sell their home.
What does active with kick out mean on Zillow?
The “active kick-out” status is another term used to indicate that the seller has accepted an offer, but the sale is contingent on the buyer being able to sell his or her current property before proceeding with the sale. The “kick-out” part of the status means that the seller can continue to market the home.
What does a kick out mean?
: to dismiss or eject forcefully or summarily. Synonyms Example Sentences Learn More About kick out.
What is a no kick out clause?
“Contingent with no kick-out” is one of those real estate clauses that can be attached to a buyer’s offer on a house. Like “active” or “sale pending status,” a house marked with this clause can give buyers a sense of whether or not the house has received an offer and how close sellers might be to closing the deal.
What does contingent active kick out mean?
CONTINGENT WITH KICK OUT This means that the seller has an opportunity to accept a different offer from a buyer and “kick-out” the first contract. For sellers, a kick-out clause can be an acceptable arrangement because, although they have signed a contract, they remain able to keep the house on the market.
Is a kick out clause common?
Kick-out clauses are more common in buyer’s markets than seller’s markets because sellers want to ensure that they aren’t stuck in a drawn-out, lengthy home sale.
What happens if a backup offer is made on a property when a kick out clause is in effect quizlet?
What happens if a backup offer is made on a property when a kick-out clause is in effect? If the new offer is better than the existing offer, the seller can choose to accept the new offer. The contracted buyers have a specified time to remove the home sale contingency and proceed with the purchase.
What does kick out right of first refusal mean?
A first right of refusal clause accomplishes the goal of protecting you while still allowing you to accept the offer. When you add a ROFR or kick-out clause, you tell the buyer making the contingency offer; you will still keep your house on the market until the buyer purchases your home.
What does active mean on a Zillow listing?
ACTIVE – for properties that are offered for sale and have no accepted contract on them. This usually happens if the seller is interested in accepting another contract from a buyer who does not have a house to sell.
What does active option mean in real estate?
An active option contract means the seller has accepted an offer to sell their property. However, the transaction is in an option period, or inspection period. This is when a home inspection will occur. The buyer may back out of the purchase of the home.
What does active mean when selling a house?
When we talk about the status “active” as it relates to real estate, what it really means is that a listing has been posted on a local or regional MLS (Multiple Listing Service) and is officially up for sale. When these contractual agreements go unfulfilled, a sale can fall through.
What do you get a kick out of?
get a kick out of (someone or something) To get a sense of enjoyment, amusement, or excitement from someone or something. Even as an adult, I still get a kick out of building sandcastles at the beach. She really gets a kick out of doing wheelies on her motorcycle in front of an audience.
What is another word for kicked out?
In this page you can discover 13 synonyms, antonyms, idiomatic expressions, and related words for kick out, like: expel, remove, oust, reject, drum-out, eject, keep, boot-out, throw out, dismiss and kick.
What is the difference between active kick out and active contingent?
OPT Active Option Contract: Seller has accepted an offer but the Buyer is exercising the option period from the sales contract. KO Active Kick Out: Property has an offer contingent upon the sale of another property by buyer. (Refer to TAR Form 1908) Still available for showings and backup offers.
What does active no offer mean?
Active. This means that a property is currently on the market and available for sale. It may have received offers, but none have yet been accepted, which means that the opportunity is wide open for you to make a proposal.
How do you avoid a kick out clause?
Buyers that want to avoid a kick out clause often need some extra help juggling selling their home and buying one at the same time — especially when buying in a competitive seller’s market. One option for making that process easier is Orchard.
