Home Buying in Temple Hills>Question Details

Fungirl, Home Buyer in Washington, DC

Home for sale in Prince Georges County

Asked by Fungirl, Washington, DC Mon Nov 26, 2012

Good Afternoon. A home for sale that saids, Contingent/No Kick Out. Can someone tell me what this means?

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Natalie Dean’s answer
Hi Fungirl,
You always post great questions! Contingent/No Kick Out means that there are some contingencies that must be satisfied, home inspection/appraisal, but that regardless of the findings the buyer can not walk away from the transaction. If you are looking to place a back up offer these are normally not the homes that you want to spend your time on. If you would like to see more homes in the area that you are searching feel free to browse our website like an agent for FREE. If you want further information on a particular house or make arrangements to show in box me so we can connect!

All the Best!
0 votes Thank Flag Link Tue Nov 27, 2012
Hi Fungirl,


Contingent With No Kickout indicates the property is available, but has a ratified contract with at least one pending contingency. None of the pending contingencies include a kickout clause.
0 votes Thank Flag Link Mon Nov 26, 2012
Here is the official definition from the Multiple Listing Service: CNTG/NO KO: (Contingent with No Kick Out) - Indicates that the property is available but has a contract with at least one pending contingency and the pending contingencies do not contain kick out clauses.

Hope that helps.
0 votes Thank Flag Link Mon Nov 26, 2012
Hello fungirl. It sounds like you may have seen a property online that you really like that may be under contract. Give me a call or email me at 301-440-1489 or parkerteam4@aol.com. There is a way that I can monitor this property daily to see if it comes back on the market. If it does we can go after it. Thanks.
0 votes Thank Flag Link Mon Nov 26, 2012
Answer:

When the status on a property is listed as “Contingent w/no kick-out” it means that an offer has been presented to the seller with contingencies, and if those contingencies are not satisfied, then the seller may take another offer.

A “kick-out” clause is sometimes used if a seller wants to reserve the option to accept a better offer, once the property is under contract. A “no kick-out” clause means that the seller relinquishes this option once his/her home is under contract.

So, in your example “Contingent w/no kick-out” means that the seller has accepted an offer with contingencies, but cannot accept another offer unless those contingencies are not satisfied.
0 votes Thank Flag Link Mon Nov 26, 2012
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