Contingencies explained
The conditions that protect you if something doesn't check out.
Contingencies are conditions that must be met for the sale to move forward. Common ones include financing (the loan has to actually be approved), inspection (you can back out or renegotiate based on what an inspector finds), and appraisal (the home has to appraise at or near the purchase price). Each contingency you include adds protection. In competitive markets, each one you waive can make your offer more appealing but riskier for you. Know exactly what you're trading off before you waive anything.
This step is general educational guidance, not legal, financial, or real estate advice — your contract terms, deadlines, and local requirements always take precedence, so confirm specifics with your licensed professionals. Read our full disclaimer.