Hubbard Clause- Buyer's Property Under Contract

Last  weeks post, we discussed the Hubbard Clause- The Hubbard Clause is to be used when a buyer finds a home they would like to purchase however the buyer has real estate they will need to sell enable to get financed for their new purchase.

The next step for a buyer with a Hubbard clause on another property  is to:

1. Keep an eye on the contingency dates written on the purchase & sales contract and the Hubbard clause.
2. If  the Buyer is not able to find a buyer to purchase their present property and do not go under contract with the property,  the buyer's agent should communicate this to the listing agent and request the appropriate extensions. Keeping the lines of communicates open is important .  The best case scenario  is that the seller agrees  and will allow the extension request.