Contingencies to Include in Your House Purchase Contract

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The standard home purchase contract lists several conditions that must be met before the closing will take place, covering issues like financing, inspections, insurance, and more. These conditions are called “contingencies.” They’re important both to give you an out if, for example, your financing falls through or other uncontrollable events or discoveries create barriers to your finalizing the deal

Remember, buying a house isn’t like buying a television, where you can return it within 30 days if you don’t like it. Once the deal is done, it’s pretty much done. So it’s worth investigating whether you’re doing the right thing and creating contingencies allowing you to make these investigations before the purchase is finalized.
How Contingencies Work

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