What clause in the WB-11 Residential Offer to Purchase involves a deadline that begins upon actual receipt of a document?

The correct choice pertains to the Bump Clause, which is specifically designed to create a scenario where certain conditions trigger a deadline based on the actual receipt of a document. In real estate transactions, a Bump Clause typically allows a seller to accept backup offers while still under contract with another buyer. The clause comes into effect once the seller receives the notice that the primary buyer has submitted an offer, prompting specific actions or responses within a set timeframe.

This mechanism is particularly important in competitive markets, as it provides sellers with flexibility and the opportunity to pursue other potential buyers if the initial offer does not progress as expected. Thus, the Bump Clause crucially integrates the concept of time-sensitive rights and obligations into the negotiation process.

In contrast, other mentioned clauses serve different functions: the Contingency Clause outlines conditions that must be met for the sale to proceed, the Termination Clause details the circumstances under which the agreement can be terminated, and the Inspection Clause addresses the right to inspect the property and the consequences of the findings. Each of these clauses involves distinct processes and timeframes, but they do not operate on the mechanics of receipt-based deadlines as the Bump Clause does.