What are Home Sale Contingencies?

what are contingencies

There are many different types of contingencies in real estate transactions, but one of the most common types is a home sale contingency.

As the name implies, a home sale contingency stipulates that a buyer’s current home must sell in order for the transaction to buy a new home to move forward.

These contingencies include dates by which the buyer’s current home must sell. If the home is sold by that date, the contract on the new home can go ahead. If, however, the buyer’s current home does not sell, the transaction is nullified.

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