What are Contingencies? - Magic Minute - Season 3
What are contingencies? Title, disclosures, inspections... just to a name a few.
Contingencies are the line in the sand of all real estate transactions. Think of them as a protective layer in the deal. If you're a buyer, what does it mean to remove them? Well, tbh, it can be scary. (😱)
Why? Because, once those contingencies are removed and the buyer doesn't go through with the deal, the seller can (and very well might) go after that deposit.
If you are a buyer's agent, make sure you double/triple/quadruple check all the paperwork relating to the contingencies. Because once they're gone 💨 goes that deposit (possibly).
Thanks for being part of the rebellion and for being here ❤️ Pete