What is the virginia law on removel of sale contingency as the seller?

Asked by Lance, Chantilly, VA Tue Feb 26, 2008

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Cindy Jones, Agent, Alexandira, VA
Tue Feb 26, 2008
Your contract should have a deadline for the sale contingency to be removed. If that date has passed then you should officially give notice and have every one sign off that the contingency is either removed, the contract is void or extend the contingency. You should not leave it hanging. Consult your contract and your agent regarding specifics of your situation.
Web Reference:  http://cindyjoneshomes.com
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FrankyRealty, , Arlington, VA
Tue Feb 26, 2008
Hey Lance,
I need more information.

As a listing broker, I require that a house under contract is always listed as Under Contract with No Kickout versus the "Under Contract" since that status shows too much information.

So you are the seller and you have a contract with a kickout (which means you cna still market it on Craiglist) , and a buyer that has a certain timeframe to sell their place?

Have you looked closely at your contract? It should say something about 3 business days beyond the deadline. But also it might require that the listing agent give notice to the buyer. So if there is a deadline of Feb 1st 2008, but the listing agent doesn't send a notice saying "you have gone past your deadline, you have 3 days before the contingency drops," it might stay on forever.

Just double check the contract. Some require action and notice, and some fall off by default on a particular deadline.

Hope that wasn't too confusing!
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