Buying A Home
What are contingencies in a real estate purchase?
Contingencies in a real estate purchase contract allows the buyer (or seller in the case of seller contingencies) to cancel the contract without breaching the contract. While contractual contingencies can be built in for pretty much anything you can think of, there’s a few common and somewhat standard contingencies for buyers: investigation, appraisal, and financing contingencies. Right now in Oakland, Berkeley, and much of the East Bay, contingencies are often waived to better compete against other buyers. While this may be necessary to have your offer accepted, it’s often against the advice of your broker. Speak with your agent about
