Can you hear the voice saying, “You know son, it is an interesting thing about contingencies…”?
I’ll tell you it is. In fact, some are not known at the viewing stage and even at the pre-offering stage. Some of the agents without code have been been guilty of waiting until buyers have spent $$$ on inspection and appraisal before dropping the “contingency” hammer.
Now, onto answering the question about Contingencies. There are several main types of contingencies in the Real estate world.
- Seller unable to close escrow with their sale until they find their home of choice.
- Buyer needing to sell their home before they can buy another.
- Contingencies subject to inspection. (usually a tenant occupied thing, where they are unfriendly to the idea of their “rental” being sold)
Then you have some various contractual contingencies, here are a few:
There are others that you are going to want explained to you by a Real Estate industry expert. Watch the video or give us a call – we will answer any questions.