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What contingencies should be put in an offer?
Buyers Answers
Most offers include two standard contingencies: a financing contingency, which makes the sale dependent on the buyers' ability to obtain a loan commitment from a lender, and an inspection contingency, which allows buyers to have a professional inspect the property to their satisfaction. Normally, you have 17 days to complete your due diligence and remove contingencies. Before this time, you can pull out of escrow for almost any reason without risking your deposit. On Day 17, Monty will contact you and make sure you are ready to move forward. After this, you cannot pull out of the transaction without risking your deposit.
The purchase contract must include the seller's responsibilities, such as passing clear title, maintaining the property in its present condition until closing and making any agreed-upon repairs to the property.
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