Today’s Social Post

Contingencies in real estate are conditions that must be met for a transaction to move forward and ultimately close. They protect buyers and sometimes sellers by allowing them to cancel the contract or renegotiate terms if certain requirements aren’t satisfied. Common contingencies include the home inspection, financing, and appraisal—each giving the buyer a specific timeframe to complete that step. For example, if a home doesn’t pass inspection or appraise for the sale price, the buyer can walk away or request repairs or a price reduction. Once all contingencies are met or waived, the sale proceeds toward closing.