What does The 72-Hour Clause mean?

The 72-hour clause is a provision that is often included in real estate contracts that gives the buyer a certain amount of time, usually 72 hours, to change their mind and cancel the contract without penalty. This clause is intended to provide the buyer with a cooling off period during which they can reflect on the purchase and make sure they are comfortable with it. The 72-hour clause is not mandatory and its inclusion is up to the parties involved.

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Homeowners' Association Discount Points Estimated Total Savings Commission agreement Construction Loan Alienation Clause Co-Housing Gross Up Tear-Down Condition Lease Building Permit Low Density Deep-Seal Floor Drain Homesteading Purchase-Money Mortgage Modified Gross Commission On a Listing Agreement Arbitration