🏡 What Is a Sale Contingency in Real Estate? A sale contingency means your deal depends on another home being sold first. ⭐ If You’re the Buyer: A sale contingency says: > “I want to buy your home, but only if my current home sells first.” This protects the buyer so they don’t get stuck owning two homes at once or being unable to close financially. There are two common types: 1. Home Sale Contingency Your current home is not yet under contract. You’re telling the seller you need time to list it
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FacebookThe Kerin Group
One term you should definitely know when buying a home is "contingency" 📝. This legal safety net lets you back out of a purchase under specific conditions without losing your deposit 💰. 🛡️ Why It Matters: Contingencies protect you from unexpected issues like a failed home inspection or financing snags. 🔄 Not a Free Pass: While contingencies offer an exit route, it's not an invitation to casually back out. Be serious about any offer you make 🤝. 🏡 Types of Contingencies: Home Inspection 🕵️‍
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