Happy Monday, everyone! It is time for another Real Estate Alphabet Soup episode today. Are there terms and contingencies that you're not comfortable in working with when it comes to buying or even selling a home? Then today's episode is for you.

V for Voiding the Contract

If in an event you have a contingency and you are not satisfied with it, say, home inspection, you can give a notice. This is where voiding the contract comes into play.

The seller can also give you a notice if you're contingent on financing and you have passed the timeline. So it is a one party communication. On top of that, in an event that there is a voiding, you will get your earnest money deposit if both parties agree to the term of notice and the voiding of the contract. 

For these special scenarios, it is recommended to reach out to your realtor to draft one for you or to see your best options before going for the contract voiding.

Do you need help in contracts and the different paperworks in buying or selling a home? Let's talk! Call me at 703-625-4949 or visit my website at www.RituDesai.com for more information. Make your move today!