05/20/2024
Let's get to the bottom of what contingencies in real estate are. π A contingency is a clause in a formal real estate contract that states there are certain conditions that must be met by either the buyer or the seller in order to continue to the next step in the contract. There are contingencies in almost every real estate contract. They are there to protect the buyer and the seller. Both the buyer and seller must agree to the terms of each contingency and sign the contract before it becomes binding.