Contingencies are conditions written into a real estate contract that must be met for the sale to proceed. Common ones include:
Inspection Contingency – Allows the buyer to negotiate or walk away if issues are found.
Appraisal Contingency – Ensures the home’s value matches the loan amount.
Financing Contingency – Protects the buyer if they can’t secure a mortgage.
Home Sale Contingency – Lets buyers back out if they can’t sell their current home.
While contingencies protect buyers, sellers may prefer offers with fewer contingencies for a smoother, faster closing.
