Contingencies in Contracts
In real estate a contingency is common and written into almost every contract. Contingencies are clauses in a contract that give either the buyer or seller a way to get out of the contract if certain conditions or timelines aren’t met. Every contract can be unique. The possibilities for contingencies are virtually endless, however, here are some of the more commonly used contingencies in the order you would usually exercise them:
Remember, just like everything else in real estate contracts, contingencies are negotiable. In drafting your offer to purchase a home or piece of property, we will ensure that you are comfortable with all contingencies included in your contract and help you determine if it is appropriate to add additional ones as well.
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