Real Estate Keynotes: Contingency.
A contingency is a condition that must be met for a home sale to go through. For example, a financing contingency indicates that a buyer’s loan needs to be fully approved for the sale to be finalized. If their loan isn’t approved and this condition is properly disclosed to all parties, the contingency clause gives them the right to withdraw from the contract without penalty.Real estate transactions could involve many contingencies, so be sure to review your contract and ask questions if needed.
