Heard the word “contingency” but not quite sure what it means? You’re not alone. In real estate, a contingency is a condition that must be met for the sale to go through.
Here are a few common ones:
-Inspection contingency – lets buyers walk away if the inspection reveals major issues
-Appraisal contingency – protects buyers if the home appraises below the purchase price
-Financing contingency – ensures buyers can back out if their loan falls through
These are protections for both buyers and sellers—but they also affect timelines, negotiations, and risk. Want a quick breakdown of how contingencies might show up in your deal? Contact one of our agents today and let’s talk it through.
