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Tuesday, September 25, 2007

What is a contingency?

These are conditions written into real estate offers and contracts to prevent a buyer from being forced to buy a house that is unsatisfactory--either structurally or financially. Conditions to the performance of one or both parties to a contract. The most common contingencies in a real estate sales contract are for financing and for inspection of the property. In general, if a contingency cannot be met, the party subject to the contingency has the right to declare the contract null and void and be released of his obligations to the other party.


Angela M. Haas  -  Avalar
Ph: 415 246 6533
711 Grand Avenue, Suite150
San Rafael, CA 94941


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