What is a Contingency - EP181 - Homeownership

<p>In this episode we discuss why a contingency is a protective clause that can be put into the contract to help protect your deposit. It says in order for the sale to happen something else must happen first. Home inspection contingencies are very common. This states that if the home inspection results are not satisfactory to the buyer that they can walk away with their deposit. A home sale contingency is something that often home buyers who already own a home need to use. It states that if I can not sell the home I already have then I have the right to withdraw from the contract to buy your home with my deposit.</p>