When you’re selling a duplex, triplex, fourplex or single-family home in Silicon Valley, you’ll encounter the term contingency. But what is a mortgage or loan contingency, and how will it affect your real estate deal? What is a Mortgage or Financing or Loan Contingency? A contingency is a condition that must be met –
Most real estate transactions include contingencies – conditions that must be met to close the deal. One of the most common real estate contingencies involves home inspections, which are designed to protect buyers from purchasing a property that has major issues. Here’s what you need to know. What is an Inspection Contingency? When someone
Your buyer will likely hire a home inspector before finalizing the purchase, but you should have a pre-listing home inspection of your own to ensure the sale proceeds smoothly and quickly. Although it is optional, a pre-sale home inspection can help you uncover any unknown issues lurking under the surface that might become issues
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