{"id":369064,"date":"2016-04-04T10:47:11","date_gmt":"2016-04-04T15:47:11","guid":{"rendered":"https:\/\/ability-fl-prod.internetbrands.com\/ability-law\/realestate\/buying-a-home\/contingencies-to-consider-before-you-buy.html"},"modified":"2023-09-12T10:12:55","modified_gmt":"2023-09-12T15:12:55","slug":"contingencies-to-consider-before-you-buy","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/realestate\/buying-a-home\/contingencies-to-consider-before-you-buy.html","title":{"rendered":"Home Contingencies to Consider Before You Buy"},"content":{"rendered":"\n
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Home Contingencies to Consider Before You Buy<\/h1>\n
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\n By Melissa McCall, J.D.<\/a> | Legally reviewed by Katrina Wilson, Esq.<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n

In an ideal world, the homebuying process<\/a> is simple. You find a house<\/a>, make an offer, close, and move into your dream home. But buying a home is daunting for a first-time homebuyer<\/a>. And once both parties sign the real estate purchase agreement, the deal is final.<\/p>\r\n

Home contingencies are vital to protect against unfavorable circumstances, such as the buyer’s failure to get home insurance before the closing date. Many standard home purchase contracts contain conditions that either party must meet before the transaction closes. These conditions are real estate contingencies.<\/p>\r\n

Many homebuyers make contingent offers on their future home. They can leave the purchase agreement if the contingencies aren’t met. This reduces some of the risks in buying a home. Think of home contingencies as part of your due diligence<\/a> as you navigate the housing market.<\/p>\r\n

This article will explore a few common real estate contingencies both parties should consider during the homebuying process.<\/p>\r\n

Types of Home Contingencies<\/h2>\r\n

Standard home purchase contracts<\/a> contain several common contingencies. These include:<\/p>\r\n