Hubbard Clause Contingency
A clause in a property purchase contract that protects a buyer from having to close on the purchase of a new home until they have successfully managed to sell their current home. Many sellers do not wish to accept these clauses in their sales contracts in case the sales contract doesn’t close. A seller may favor a potential purchaser that doesn’t have a current property to sell or who does not make the purchase of the new home contingent on selling their current home. A seller may even accept a lower offer from such an unencumbered buyer.