There are many steps to purchasing a new home. After the initial offer is made, buyers and sellers often negotiate before they come to an agreement. Buyers then deposit earnest money to show they are serious about the purchase, and both parties begin the closing process.
However, a lot of things can go wrong between signing the contract and closing on a house. To protect buyers, several types of contract contingencies may be included in the contract. These allow the buyer to legally back out of the sale if necessary.
Many home contract contingencies are accepted by sellers, but some may weaken offers on a home. Here are four common types of home contract contingencies and how to tell which ones may be right for you.
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