When you’re working on the computer, the “undo” button can be an invaluable tool. So can a contingency clause when you’re looking to buy or sell a home.
Contingency clauses provide a way for one or both parties to back out of a real estate contract if certain specified conditions are not met. In other words, the sale is contingent upon these conditions. Common contingencies in real estate include an appraisal contingency, inspection contingency, sale contingency, or funding contingency. READ MORE