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Purchase Offer Contingencies

In real estate, contingencies are critical elements in purchase offers that protect buyers against unforeseen circumstances. Common home condition contingencies include inspections for pests, lead-based paint, roof damage, and mold. Financing contingencies may involve appraisal and loan acquisition conditions. These contingencies highlight the uncertainties involved in real estate transactions and ensure that buyers have avenues for negotiation and protection. Understanding these key factors helps buyers make informed decisions and secure the best deal.

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Purchase Offer Contingencies

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  1. Purchase Offer Contingencies

  2. What Is a Contingency… dependence on chance or on the fulfillment of a condition; uncertainty; fortuitousness a contingent  event; a chance, accident, or possibility conditional on something uncertain IF IF IF IF IF

  3. Common “Condition Of The Home” Contingencies • Home Inspection • Pest & Wood Destroying Pest Inspection • Lead-Based Paint • Asbestos • Well & Sewage Inspections

  4. Common “Condition Of The Home” Contingencies • Roof Inspection • Mold & Fungus • Title Report • Radon • Statutory Disclosures House Title

  5. Common “Conditions Of Finance” Contingencies • Appraisal • Obtaining a Loan • Selling Your Existing Home • Homeowner Association Disclosures H.O.A. Disclosures

  6. Assuring You Get The Safest & Best Deal CONTINGENCIES • Condition of the Home Contingencies are generally not an issue with the seller • Condition of the Home Contingencies can also usually be negotiated • Funding/Banking Contingencies may or may not be deal breakers depending upon: • Current Market Conditions • Number of other buyers interested • If there are other Purchase Offers

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