I am having a problem filling out this contingency contract for the sellers of our home they told us they have no idea how to do this - I like to move forward with things so I am trying to get this filled out for them...

This is a TREC (TX) "Addendum for Sale of other property by buyer" Line item B states “If Seller accepts a written offer to sell the Property, Seller shall notify Buyer (1) of such acceptance AND (2) that Seller requires Buyer to waive the Contingency. Buyer must waive the Contingency by 5:00 p.m. on the _____________ day after delivery of Seller's notice to Buyer; otherwise contract will terminate automatically and the earnest money will be refunded to Buyer"

We have agreed that for a 60 day contingency that we will sell our house and they will pull there yard sign "FSBO" and we will purchase there home upon sale of ours...

This line item seems to be saying that if some someone offers them a better price that I must waive the contingency...? Am I reading this right and what would I put in the blank?

Please Respond...