Investor’s Guide To The Real Estate Contingency Contract

Abstract

The following overview is a great way to prepare for real estate contingencies: Contingency Contracts Are Conditional: The validity of a contingency contract depends on whether certain tasks are completed, or avoided. Base Contingencies on Specific Events: In order for a contingency contract to be successful, contingencies must be specific and measurable. The buyer either put in an offer with no contingencies or removed their contingencies. Contingency Period Length An inspection contingency period can be anywhere from one to two weeks, while a mortgage contingency lasts between 30 and 60 days on average. Essentially, the contingency period length depends on the type of contingency involved. Home Inspection Contingency Far and away, the home inspection is one of the more important protection contingencies of a real estate contract. Kick-Out Clause If you are a seller, you may wonder what contract contingency might serve to protect you if a buyer would like to implement a house sale contingency real estate contract.