Americas, Special Report, World News

[Aale#skeriut]

There can also be contingencies related to time, like how soon the seller needs to move out or that the sale is contingent on your selling your current home. The fewer contingencies, the fewer chances for the deal to fall through. Financing contingencies relate to your ability to secure a mortgage. They allow buyers to back out - without penalty - if they can't secure a mortgage. Not including a financial contingency is interesting to sellers because buyers are stating they won't cancel due to finance issues. An appraisal contingency states that the home has to be appraised at a value that is at least as much as the price you agree to pay. During bidding wars, however, there is a good chance the appraisal will come in lower than the offer, making it smart to waive the appraisal contingency. With a home inspection contingency, a buyer has the option of requiring the seller to make repairs - or lowering the sales price - based on issues raised during the inspection.




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