Definition
This contract clause gives the seller the right to keep marketing and accept backup offers if you don't remove contingencies within 72 hours. It's seller-favorable but common in competitive markets.
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Find my pathAbout this term
72-hour clause applies when offer has contingencies: seller can accept backup offers if primary buyer doesn't remove contingencies within 72 hours. Protects seller: doesn't have to wait indefinitely for appraisal/inspection. Commonly used in competitive markets. Example: buyer offers contingent on appraisal. 72-hour clause requires buyer to remove appraisal contingency within 72 hours or seller can accept backup offer. If buyer removes contingency within 72 hours, primary deal stands. If not, seller can move to backup offer. 72-hour clauses are sometimes called 'safety clauses' or specified by state (Texas has 3-day clauses in some contexts). Clause incentivizes fast contingency removal. Clause is seller-favorable: pushes buyer to quick decision. Buyer-unfavorable: might not get appraisal/inspection completed in 72 hours. Understanding 72-hour: get contingencies removed quickly if such clause exists. Don't assume you have time—move fast if clause applies.
Pro Tip
If 72-hour clause applies, remove contingencies immediately. Don't delay appraisal/inspection.
Example
Contract includes 72-hour clause. Buyer has 72 hours to remove inspection contingency or seller can accept backup offer.