Homeownership Understanding Contingencies - EP207 - Homeownership

<p>In this episode we discuss what the world contingent means: In order for one thing to happen a certain circumstance must already happen. This can be used in many different ways as a precautionary measure for both buyer and sellers alike. When looking over offers in real estate the bottom line is not all that matters. As a seller and as a buyer you should be aware of all contingencies. One of the most common contingencies in real estate deals is a mortgage contingency. This contingency states that if a buyer fails to get financing within the terms allotted they have the right to leave the deal with their deposit money.</p>