What are the most common contingencies?
- Financing. Unless you’re paying cash, it’s typical to write your offer with a contingency clause that lets you off the hook if you can’t finalize your mortgage within a certain number of days. Even though you have a pre-approval for a loan, it’s smart to protect yourself.
- Home inspection. Your offer can be made dependent on a satisfactory home inspection report within a certain number of days. This protects you if the inspection uncovers expensive necessary repairs.
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