Contingencies...There Are Quite A Few

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

 

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.

  1.  

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?

Posted by

Margaret Rome
HomeRome Realty
Broker/Owner/Realtor®

Baltimore, Maryland


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Comments (11)

Emily Medvec
eXp Realty LLC - Santa Fe, NM
Broker | Realtor | Serving Santa Fe & Northern NM

Your list has me awake and thinking this morning. What about homeowner or condo association, HOA or COA contingencies, or is this in your document review. Another would be boundary/survey. 

Nov 27, 2022 07:34 AM
Margaret Rome Baltimore 410-530-2400

Emily Medvec, Yep I will add survey/boundary.

Nov 27, 2022 12:18 PM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Margaret - contingencies definitely have consequences.   

Nov 27, 2022 07:38 AM
Margaret Rome Baltimore 410-530-2400

Good afternoon, Michael Jacobs so very true!

Nov 27, 2022 12:19 PM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good Morning Margaret and great list to share with us here in the Rain.  Make it a great day!

Nov 27, 2022 08:35 AM
Roy Kelley
Retired - Gaithersburg, MD

This is good information to share.

Have a great day and a very productive week.

Nov 27, 2022 11:24 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Good to see you Will Hamm 

Nov 27, 2022 12:20 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Margaret contingencies are something I have to deal with all the time on the financing side of the business, and they can be many before a Clear-To-Close can be given.

Nov 27, 2022 03:32 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

George Souto Clear To Close is a lovely statement! 

Nov 27, 2022 08:25 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

That's a good list to inform about contingencies in sales contracts, Margaret.  I hope you had a delightful Thanksgiving.

Nov 28, 2022 05:25 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

CONGRATULATIONS Margaret, on having this blog FEATURED in the Old Farts Club group!  

Nov 28, 2022 05:25 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Good morning Myrl Jeffcoat 

Good to see you, and thank you for the feature.

Nov 29, 2022 08:29 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

and these contingencies are definitely back in style these days!

Nov 30, 2022 07:55 AM