Escape Clause, Glossary and Terms, Mortgage Brokers, Banks US

U.S Mortgage Brokers Mortgage Brokers, Banks US, Rate, Review, Remortgage

"Escape Clause"

A provision in a purchase contract that allows either party to cancel part or the entire contract if the other does not respond to changes to the sale within a set period. The most common use of the escape clause is if the buyer makes the purchase offer contingent on the sale of another house.

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