WebMay 20, 2024 · In general, contingent means “depending on certain circumstances.” In the world of real estate transactions, it means the sale depends on the contract’s contingencies being met. A contingent...

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WebA contingent offer on a house is an offer with a protective clause on behalf of the buyer. The contingency communicates that if the clause isn’t met, the buyer has the right to … WebOct 21, 2024 · In order to execute the final deed transfer, the buyer and seller are contractually obliged to meet any contingent requirements. We’ve listed the five most common contingencies listed in property purchase agreements: Inspection contingency. Appraisal contingency. Title contingency. Home sale contingency. Loan contingency. passport karachi online

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WebMay 24, 2014 · The appraisal contingency is often separate from the loan contingency. An appraisal contingency means the home must appraise at the purchase price. If the appraisal is less than the purchase price, then the buyer can cancel, providing the buyer has an appraisal contingency in the purchase contract. If the seller agrees to lower the price … WebApr 21, 2024 · What Is a Contingent Offer? A contingent offer on a home includes a clause that protects the buyer and makes it easier to back out of the deal without financial penalty in certain circumstances. WebApr 21, 2024 · A contingent offer on a home includes a clause that protects the buyer and makes it easier to back out of the deal without financial penalty in certain circumstances. Depending on the type of contingency specified, the buyer could have more power to renegotiate the price if the inspection reveals significant faults in the house, the lender ... passport kentucky medicaid member services