|Hubbard Clause Rider|
With the Hubbard Clause:
The property will continued be shown to other potential buyers.
In the case that a buyer comes along and is interested in offering on the home, as well, the seller will need to advise the 1st buyer of the offer.
The 1st buyer then will the have the option to remove the Hubbard Clause by:
- Finding a way to remove the Hubbard Clause- (the contingency) In this case a, " Sale of Buyer's Property Contingency Removal Form would be presented to the seller(s)
In most cases, a time frame for the buyer to remove the Hubbard Clause was set in place at the time of submitting the offer with the Hubbard Clause.
This contingency is not very difficult to put in place. It just takes great organization and communication skills. Your Realtor® would be able to help the buyer with this process.
Next: Found a Buyer and The Removal of The Hubbard Clause