Contingency is a very important provision of Real Estate contract; it is intended to protect the buyers & the sellers.
We use contingency as an exit strategy to protect the deal and to protect the buyer’s earnest-money deposit (EMD) and in some cases to protect the buyer and seller from legal consequences if things don’t go as planned.
Here are some of Common Real Estate Contingencies:
- Financial contingency
- Appraisal Contingencies
- Home Inspection Contingencies
- Sale of buyers existing Contingencies
- Finding sellers replacement home (Seller)
- Pre sale inspection
- 10-Physical inspection
All contingencies start at the final executions of the Contract (Final Acceptance) which in Real Estate means binding contract.
Each of these contingencies has a time frame that needs to be followed carefully
Only experienced agents with strong negotiation skills know how to follow the contingencies, and protect their client’s buyers and sellers alike.
We at Suhaila Sabir Realty Group thrive ourselves for being one of the strongest negotiators in the industry.
For more information or if you have any questions. Please contact Suhaila Sabir
Excellence Real Estate
8300 Stewart And Gray Rd
Downey, CA 90241
Cell phone: (323) 553-3991