In your search for the perfect home, you may come across listings tagged as “Active Offer No Bump.” But what does Active Offer No Bump mean? Can you still make an offer on a house with this status? If you do submit an offer, what can you expect in terms of the seller’s response and the overall buying process? In this post, we explain the bump clause in real estate and why some sellers may choose to label their property as “Active Offer No Bump.” We’ll also share insights on whether it’s worth your time to throw your hat into the “no bump” ring. In residential real estate, a bump clause is a provision in a home sale contract that gives the seller certain rights, particularly when they’ve accepted a contingent offer. A contingent offer means the buyer’s ability to complete the purchase is dependent on specific conditions being met, often related to them selling their current home. Here’s how it works: This clause is designed to minimize the risk for sellers, ensuring they aren’t entirely locked into a deal that might fall through due to the buyer’s contingencies. Understanding this clause is crucial, as it affects both buyers’ and sellers’ strategies in the property market. When you encounter a listing with the status “Active Offer No Bump,” it implies a specific situation in the real estate market. Here’s what this term breaks down to: This status is a signal to potential buyers that while the seller has accepted an offer, they are not looking to “bump” this buyer for a new offer, even if it might be more attractive or less conditional.What is a bump clause in real estate?
What does ‘Active Offer No Bump’ mean?
