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Homeownership Understanding Contingencies - EP207 - Homeownership
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In this episode we discuss what the world contingent means: In order for one thing to happen a certain circumstance must already happen. This can be used in many different ways as a precautionary measure for both buyer and sellers alike. When looking over offers in real estate the bottom line is not all that matters. As a seller and as a buyer you should be aware of all contingencies. One of the most common contingencies in real estate deals is a mortgage contingency. This contingency states that if a buyer fails to get financing within the terms allotted they have the right to leave the deal with their deposit money.
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