Fifteen Contract Contingencies You Should Be Aware Of

Following is a list of fifteen contract contingencies that any seller should be aware of in regards to a purchase contract for their home. Many of these contingencies can make or break any transaction.

  1. Building inspection contingency
  2. Survey and flood plain contingency
  3. Stigmatized property contingency
  4. Accountant review and approval contingency
  5. Environmental hazards contingency
  6. Planning department approval contingency
  7. Lead paint contingency
  8. Loan approval contingency
  9. Attorney review and approval contingency
  10. Title inspection contingency
  11. Occupancy permit contingency
  12. Sale and/or closing of current home contingency
  13. Appraisal contingency
  14. Termite/pest inspection contingency
  15. Subject to someone else’s signature contingency

Home Buying: Final Walk-Through

Before escrow closes, you and your agent should conduct a walk-through to ensure that the property is in the same condition as when escrow first initiated, if not better, and to ensure that all requested and agreed upon repairs have been completed and cleaned up. It is important to not overlook the following items:

  • The requested/agreed upon repairs have been made
  • All items that are included in the sale are still there
  • Hot water heater is strapped
  • No plants or shrubs have been removed from the yard
  • Garage door openers are available (if applicable)
  • Instruction books and warranties or there (if applicable)
  • All personal items of the sellers and all debris has been removed