Contingency Plan | Definition, Importance & Examples
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Meet the Contingency Clause: your safety net in a real estate deal. 🛡️ It allows buyers to step back or renegotiate if critical conditions aren’t met. Common contingencies include: Inspection Contingency: You can request repairs or cancel if major issues are found. Appraisal Contingency: Ensures the home appraises at or above the purchase price. Financing Contingency: Protects you if your mortgage approval falls through. Without these, you could be stuck in a deal you can’t afford or pay thousa
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