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.