Buying a home is a huge decision, not only because of how much they cost, but because there are a lot of moving parts that affect the purchasing process. Various types of safeguards are put in place during the normal home buying process that work to protect both the seller and the buyer, and in most cases, they are referred to as contingencies. What do these contingencies mean and how can they help a buyer? Let’s explore three common ones and how they work.
Contingencies To Be Aware Of
While contracts can vary from home to home, the three main home buying contingencies that people should be aware of are financing, appraisal, and inspection contingencies. In all of these scenarios, they help protect the buyer from having to remain in a
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