| What are the standard contingencies? | ||||||
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Most offers include two
standard contingencies: a financing contingency, which makes the
sale dependent on the buyers' ability to obtain a loan commitment
from a lender, and an inspection contingency, which allows buyers to
have professionals inspect the property to their satisfaction.
A buyer could forfeit his or her deposit under certain circumstances, such as backing out of the deal for a reason not stipulated in the contract. The purchase contract must include the sellers responsibilities, such things as passing clear title, maintaining the property in its present condition until closing and making any agreed-upon repairs to the property. |
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When It Comes To Real Estate All Questions Should Be Answered. |
| What A REALTORŪ Can Do |
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