Every real estate contract includes contingencies, which are conditions that must be met for the sale to move forward. Understanding them helps you write a stronger offer while still protecting yourself.
Common Contingencies
- Financing contingency: protects you if your loan falls through
- Inspection contingency: lets you back out or negotiate repairs based on what an inspection finds
- Appraisal contingency: protects you if the home appraises below the purchase price
- Home sale contingency: makes your purchase dependent on selling your current home
Why Contingencies Matter
Contingencies are what stand between you and losing your earnest money deposit if something goes wrong. They give you a documented, legal way to exit the contract or renegotiate terms.
Balancing Protection With Competitiveness
In a competitive market, sellers often favor offers with fewer contingencies. The key is knowing which ones you can safely waive and which ones protect you from real risk, and that decision depends on the specific home and market conditions.
Andrea Griffith helps buyers strike that balance on every offer, so you’re protected without pricing yourself out of a deal. Call or text 423-667-8610 before you submit your next offer.