Contingencies For Offers

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Randy Poole
Broker In Charge
843-693-8333
randy@beaconsc.com

Jeff McIlhenny
Owner, Broker
843-452-2953
jeffm@beaconsc.com

Contingencies For Offers

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What Contingencies Should Be Put In An Offer?

Most offers include three standard contingencies: a financing contingency, which makes the
sale dependent on

(1) the buyers' ability to obtain a loan commitment from a lender,

(2) an inspection contingency, which allows buyers to have professionals inspect the property to their satisfaction,

(3) and an appraisal contingency, which ensures the property will appraise for the agreed upon sales price or greater

A buyer could forfeit his or her deposit under certain circumstances, such as backing out of the deal for a reason not stipulated in the contract.

Question about contingencies?

Last Updated ( Tuesday, 17 November 2009 )

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