contingent contract: Contingencies...There Are Quite A Few
- 11/26/22 10:34 AM
A definition of contingency is a future event or circumstance which is possible but cannot be predicted with certainty. Essentially, a contingency is a condition that must be met before an agreement can move forward. There are many types of contingencies, and here is a list of some:
Financing Appraisal Inspection Home Sale Well/Septic Termite Radon Lead-Based Paint Document Review Finding a home And these contingencies have to be met to complete the transaction. Can you name more RE contingencies? … (11 comments)
There are many different contingencies to get a property to closing. One example in a contract ... 'This contract is contingent upon buyer successfully obtaining a mortgage loan at a specific interest rate.' Here's a list some other contingencies Home Inspection As Is with inspection. Financing Proof of funds Appraisal HOA and Condo Sale of a present home Right of first refusal Rent of a present home Kick out contingency Ground rent redemption Well, septic, radon, termite Final walk through conditions
Now we are going to talk about a Kick Out Contingency.
This is also known as a contingent contract with a kick out clause. What does that mean? The house shows up in the MLS (multiple listing system) ' CONT/KO' (Contract /Kick Out).
Contingent clauses
Kickout Addendum
The house can still be marketed and shown to other buyers and should there be another offer without a contingency, the first buyer is given a … (9 comments)
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