Addendum granting the seller the right to continue marketing and to 'kick out' a buyer with a contingent offer if a superior non-contingent offer is received, with defined response period and earnest money mechanics.
The Kick-Out Clause Addendum is a ready-to-use real estate template you can send for signature in minutes. It is written for 2 signers (buyer and seller) and, by default, expires 30 days after it is sent if left unsigned. It covers real estate, kick out clause, contingency, purchase agreement, addendum, back up offer. Like every Abundera Sign template it is a convenience draft structured for ESIGN Act and UETA compliance, not a substitute for legal advice. Each signed copy is sealed with PAdES-LTA digital signatures, dual RFC 3161 timestamps, and a tamper-evident evidence package in WORM storage.
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# Kick-Out Clause Addendum This Kick-Out Clause Addendum ("Addendum") is entered into as of ___________ and amends and supplements the Real Estate Purchase Agreement dated ___________ ("Purchase Agreement") between ___________ ("Buyer") and ___________ ("Seller") for the real property located at ___________, ___________, ___________, ___________ ("Property"). All capitalized terms not defined herein have the meanings given in the Purchase Agreement. The Purchase Agreement contains the following buyer contingency or contingencies ("Existing Contingencies"): ___________ The parties agree that Seller's acceptance of the Purchase Agreement containing Existing Contingencies is conditioned upon the kick-out rights set forth in this Addendum. --- ## 1. Seller's Continued Marketing Right Seller expressly retains the right to continue to show and market the Property and to solicit and accept back-up offers from third-party purchasers ("Competing Buyer") during the period any Existing Contingency remains unsatisfied. Acceptance of a back-up offer does not constitute a breach of the Purchase Agreement, provided Seller complies with the procedures in this Addendum. ## 2. Qualifying Competing Offer A "Qualifying Competing Offer" is a bona fide written offer from a Competing Buyer that: (a) is for the Property; (b) contains no unsatisfied contingencies of the type described in the Existing Contingencies (i.e., is a non-contingent or minimally contingent offer); (c) has a purchase price of at least ___________ (leave blank if any price qualifies); (d) has a proposed closing date no later than ___________ calendar days from its acceptance; and (e) is accompanied by evidence of financing pre-approval or proof of funds reasonably satisfactory to Seller. ## 3. Kick-Out Notice Upon Seller's acceptance of a Qualifying Competing Offer, or upon Seller's receipt of a Qualifying Competing Offer that Seller desires to accept, Seller shall deliver written notice to Buyer ("Kick-Out Notice"). The Kick-Out Notice shall state: (a) that Seller has received a Qualifying Competing Offer; (b) the date and time of delivery; and (c) Buyer's response deadline per Section 4. The Kick-Out Notice shall NOT be required to disclose the identity of the Competing Buyer or the specific terms of the Qualifying Competing Offer. The earliest Seller may deliver a Kick-Out Notice is ___________ calendar days after the Effective Date of the Purchase Agreement. ## 4. Buyer's Response Period and Options Upon receipt of a Kick-Out Notice, Buyer shall have ___________ hours ("Response Period") to deliver written notice to Seller electing one of the following options: