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A contract that is contingent on the sale of your current home will likely have a 24-72 hour "kick out" clause. Additionally, the home will remain on the market and the Sellers will inform other potential buyers that the home is under contract with a sale of current residence contingency. If the Seller receives an offer they would like to accept, you may have from 24-72 hours to remove the contingency, possibly pay additional escrow or forfeit the home.
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