Some important contingency clauses should include financing, home inspections, closing costs, and the closing date, among others. Immediate Kick-Out Clause (clause to use when Seller reserves the right to accept another offer because of a contingency):.This presentation will focus on common clauses in real estate contracts. We will discuss the natures of the clauses and their purposes. Seller agrees to pay up to ______ per cent of the purchase price for repairs of damages specified in inspection reports. An acceleration clause in a mortgage or trust deed stipulates that the entire debt is due immediately, if the borrower defaults under the terms of the contract. Standard real estate contracts contain the basis for a binding agreement between buyer and seller. Special circumstances sometimes require additional language. Seven-point checklist for items that investors should include in their purchase contract when they are buying real estate investment property. Inside this article, we'll cover contract validity, contract clauses, the different types of real estate contracts, and more.