
What You Need to Know About Contingencies When Buying or Selling a House in Shoreline, WA.
A contingency is the part of a purchase/sales agreement that spells out specific actions or conditions that must be met in order for the contract to become legal and binding and so take actual effect. There will most likely be a number of contingencies to consider. These are written into the purchase agreement or contract. This important document will most likely define a certain amount of time between the signing of the contract, and the closing of the deal. This time period will allow both you and the seller to satisfy all of the contingencies built into the agreement for the home.