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:
- Home Sale
- 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?