Terms And Phrases To Learn Before House Hunting
- By
Julia Austin
Source: Mark Hunt / Getty
Contingency
A contingency is a condition that must be met in order for a sale to go through. So you may make an offer on a home, with the contingency that, when your lender appraises the property, they find it to be equal the value that the seller listed it at. Or you could have a contingency that you will only hand over any sort of payment after an inspection finds no fault with the property.
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