The Real Estate Encyclopedia
What Is An Escape Clause?
Category - Home Buying Questions - General Home Buying FAQ's

An escape clause is a provision under the sales contract relieving one of the parties (buyer or seller) of liability for failure to perform.  For example, if a contingency in the contract allows the party to cancel the contract for no reason whatsoever, there really is no enforceable contract, for mutuality of obligation is lacking. 

 
Category(s)
Home Buying Questions - Buying Legal & Closing FAQ's
Home Buying Questions - General Home Buying FAQ's
Home Selling Questions - General Home Selling FAQ's
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