What Is a Home Sale Contingency?
HomeLight
MARCH 20, 2023
After all, few people can afford to hold two mortgages. Financing Contingency: If the buyer’s mortgage proceedings fall through, they can walk away from the home. Appraisal Contingency: If the appraisal fails to meet or exceed the purchase price, the buyer can back out of the contract (or, more often, renegotiate the purchase price).
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