Highlands NC Real Estate, Contract Contingencies
Contract contingencies exist in any Highlands NC real estate purchase. Contingencies exist to protect both buyers and sellers. In addition these contingencies keep the process flowing and ensure that steps are followed. Contingencies also allow the end of a contract when certain conditions are not met. Not every contract includes the same contingencies, however there are common contingencies that should be a part of most contracts. Your Highlands REALTOR will explain each contingency and why it is important to be in your contract.
Common contingencies include finance, home inspection, and appraisal among others. Each contingency is important in its own right. The appraisal contingency protects the value of a home, snaring that a buyer is not paying too much. The inspection contingency allows the buyer to understand the exact condition of a home. And, the finance contingency protects the seller, noting that the buyer has until a certain date to secure financing. This ensures that a seller is not keeping his home under contract with a party that cannot afford to buy it. All contingencies offer further negotiation and do not necessarily mean a contract will fall apart.
Contact me, Lynn Kimball, today to learn more about buying and selling homes in Highlands NC. I welcome the opportunity to update you on current market conditions while getting you up to speed with what is selling. Let my knowledge and experience serve as your guide to Highlands NC real estate.
Click here to read “Most Common Contingencies Buyers Request” from Realty Times.