February 2020

Found 1 blog entry for February 2020.

You finally found the perfect house and you’re getting ready to enter into a contract to buy the house. As a first time buyer, you may be wondering to yourself about your purchase contract and what protections you have as a buyer.

 

What are contingencies?

Contingencies are clauses in the contract that require both parties to meet certain conditions that must take place within a specific amount of time in order to continue to the next phase. Think of them as prerequisites to getting what you want. They are there to protect you as a buyer and can help you walk away without any monetary losses.

Buyers can remove contingencies in the contract to lift the restraint and proceed with the sale by completing a contingency removal form. If they’re

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