Earnest money deposit Inspection contingency Option period 
Redfin
JULY 21, 2025
Contingencies provide legal exits for specific situations. Backing out without cause may result in losing your earnest money deposit. These include contractual protections like contingencies, state-specific allowances like the option period, and financial repercussions such as forfeiting earnest money.
HomeLight
MARCH 16, 2023
With a cash home buyer, there are usually no financing or inspection contingencies typically found in traditional real estate contracts. So you won’t be holding your breath until the buyer’s loan approval comes through or be on the hook for needed repairs discovered during the home inspection.
HomeLight
AUGUST 29, 2022
While it is not always recommended to completely waive contingencies to impress a seller, you might consider pairing down to just the inspection contingency and financing contingency to remain competitive. Earnest money deposit amount. Contingencies: Financing, home inspection, and appraisal.
Expert insights. Personalized for you.
Let's personalize your content