clauses: What is a Contingency when buying a house? - 03/14/19 03:20 AM
You've probably heard that phrase more than once.  A contingency is like having a "what if scenario":
What if I made an offer and my other house doesn't sell, I can't afford 2 mortgage payments?  What if the house doesn't appraise for the contract price? What if I find out there is a leak in the foundation after I've already signed the contract?  What if the interest rate goes higher than I can afford Don't panic...
That's what a contingency is for.  It is a clause in the contract that says if for example You find out the house is really a money … (0 comments)