Anonymous

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Rainmaker
2,422,951
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The question has knocked me out....

Apr 08, 2016 09:00 AM
Ambassador
3,075,864
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

We have those contingencies in our MLS.  In our market, a Kick OUt is a clause in a contract that gets activated if you get a back up offer.  It is only found in home sale contingencies in our local contract.  If a buyer has a home to sell, and a back up offer comes in, seller would deliver notice to buyer that the "kick out" is in effect.  The buyer would have whatever amount of time the kick out period is to remove the contingency or the contract becomes void.

It is not a contingency to use just because you want back up offers.  It signals to buyer agents that their offer can boot out the contract you have.

Apr 08, 2016 08:59 AM
Rainmaker
679,659
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

IT SOUNDS LIKE the former gives the seller the option to notice buyer to remove all contingencies or cancel should a better offer come in.
The latter may have contingencies like inspection or financing, that a backup offer would have to wait for a fallout.
Not seeing your contract, I'd say you may need to refer your seller to a real estate attorney who can decipher which one fits your situation.

Apr 08, 2016 06:01 AM
Ambassador
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

I think here it's called kick out clause. 

Apr 08, 2016 06:26 AM
Rainmaker
983,648
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Talk to your broker. In each state the practice is different.

Apr 08, 2016 06:23 AM
Rainmaker
1,276,696
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Are you referring to a "bump clause"... based on a contingency?

Apr 08, 2016 06:08 AM
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

What is KO? Never heard of it

Apr 08, 2016 05:48 AM
Rainmaker
1,206,067
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

What is KO?  Not familiar with KO in PA.

Apr 08, 2016 05:46 AM
Rainmaker
3,049,771
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Are we talking boxing??

Apr 09, 2016 12:13 AM
Rainmaker
1,023,712
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

You may want to consult with your Broker.

Apr 08, 2016 08:09 AM
Rainmaker
1,477,246
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

I'm not familiar with Knock contingency. Can you clarify what that means? 

Apr 08, 2016 06:41 AM
Rainmaker
998,453
Corinne Guest
Corinne Guest, REALTOR® | Barrington Realty Company - Barrington, IL
Barrington Lifestyles

Do you mean a home sale contingency kick out clause? Maybe if you really don't understand this you should connect with your broker.

Apr 08, 2016 06:18 AM
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

We don't use that term so not sure what you are referring to.

Aug 21, 2016 01:23 AM
Rainmaker
3,237,979
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Since I have been a member of AR, I have seen this term in other parts of the country, it's not used in my market area.    All real estate is local.   

Apr 09, 2016 12:23 AM
Rainmaker
633,936
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Do you mean a Kick Out clause? A stipulation that performance needs to be within a specified time if another offer is received free of that contingency (e.g. sale of buyer's home). 

Apr 08, 2016 05:55 PM
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

When the buyer has to sell their home to purchase this home. the offer should be written with contingent knock out.

Apr 08, 2016 04:24 PM
Rainmaker
798,155
Diana Zaccaro
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

I have never heard those terms before...they are probably specific to your state.

 

Apr 08, 2016 02:19 PM
Rainer
302,029
Melissa Jackson
Citiwide Alliance Realty - Weatherford, TX
Helping You Make The Right Move

You should talk with your broker. I've noticed clauses available that we don't use.  I think your question is confusing the way you asked.  

Apr 08, 2016 02:18 PM
Rainmaker
2,701,008
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

This is an interesting question.

Apr 08, 2016 01:45 PM
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Try to use English properly and grammar is important in any business.

Apr 08, 2016 12:41 PM