Real Estate Contract Contingencies - What You Need to Know
By Pat Perkins
What Are Contingencies in a Real Estate Contract?
A contingency is a formal clause in a real estate contract that enumerates particular conditions that must be met by either the buyer or the seller in order for the principals to proceed to the next step in the contract. Found in every offer-to-purchase or sell contract, contingencies protect the interests of both buyers and sellers. Failure to meet a particular contingency can result in breach of contract and possible penalties to the party at fault.
Basic Contingencies in Real Estate Contracts
Contingencies are divided into categories according to their purpose:
(1) protection for the seller
Read the rest of the story.
What Are Contingencies in a Real Estate Contract?
A contingency is a formal clause in a real estate contract that enumerates particular conditions that must be met by either the buyer or the seller in order for the principals to proceed to the next step in the contract. Found in every offer-to-purchase or sell contract, contingencies protect the interests of both buyers and sellers. Failure to meet a particular contingency can result in breach of contract and possible penalties to the party at fault.
Basic Contingencies in Real Estate Contracts
Contingencies are divided into categories according to their purpose:
(1) protection for the seller
Read the rest of the story.
posted by Mike at
11:27 PM
