As bidding wars (allegedly) make a comeback, buyers are trying something new to get sellers to consider their offers: contingency fees. That is, a buyer will agree to pay a seller around $10,000 in cash for the right to back out of a deal because they can't get a mortgage. Other contracts are starting to include "kill fees" if the buyer can't sell the real estate he already owns to fund a new purchase. No lawsuits required! [Brick Underground]
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