Here are the 4 typical “contingencies” you will find in contracts to purchase or sell property.
Basically, contingencies will kill the deal.
Pay attention to these:
- Financing – if buyer doesn’t get financing – no deal.
- Appraisal – if the property doesn’t appraise for enough – no deal.
- Inspection – if the property doesn’t pass favorable inspection – no deal.
- Title – if buyer objects to certain things on the title of land – no deal.
Seller – pay attention to these and remove or limit them as desired.
Buyer – throw as many in the contract as possible. They typically help you the most.
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