Step #5 - Contingencies
What is a Contingency: It is the dependence upon a stated event which must occur before a contract is binding.
The Gray Rider Real Estate Company counsels their clients to carefully consider all aspects of the situation before any contingency is approved as a part of the transaction. Communication and understanding is the key.
The following are some common contingencies:
In the event the structure fails one of the
above inspections/tests, or the buyer is unable to obtain financing to
purchase the property, the buyer is usually entitled to a return of the
deposit in full.
