From the time of notice of the other offer on that other house you have 72 hours to execute the offer you made on the other house that was accepted with this 72 hour contingency clause in your offer. If you fail to execute the terms of your offer in that time period the seller is free to accept this other offer if they choose to do so.

I know what it means @Cruiser. My question is, we are pre-approved for the financing We’ll be ready to finish it up on Monday, and jump through all the hoops and be in at the end of the next 30 days. So have we executed the terms of the offer or not?

OK…on the contingency contract it reads: “It is understood between the parties hereto, that the Seller will continue to show said property, and in the event of another accptabl3 offer, the seller or seller’s agent will contact Buyer or Buyer’s agent by written notice providing 72 hours t remove the contingency, (excluding Saurdays, Sundays, and legal holidays) from the Contract. Failure of the Buyer to remove the contingency will cause thie Contract ot be canceled and of no further force and effect. Should the Buyer successfully remove this contingency, Buyer agrees to close within 25 days of removal.

Buyer shall be allowed to remove the contingency only if he furnishes written evidence to satisfy Seller that he has funds available, independent of the sale of his home, or that his home is presently under contract with a pre-qualified buyer….

We’re talking to a real estate lawyer on Monday, but the way we, and our realtor, read that, we removed the contingency by becoming pre-qualified to buy the home independent of the sale of the house. We also may have a contract this evening and we can get the buyers of our house pre-qualified (I hope.) Even if they don’t get pre-qualified, we only needed to satisfy one of the conditions.

We also read that we have 25 days to finalize the sale and close.

Would you say the law in on our side in this?