Contingency Clause: Defines a condition or action that must be met in order for a real estate contract to become binding. Contingency becomes part of a binding sales contract when both parties (i.e., the seller and the buyer) agree to the terms and sign the contract. If a buyer or seller is unable to satisfy a contingency, then the offer on a home may become void. Contingencies usually include time frames in which a buyer can get his earnest money back if the contingency isn’t fulfilled before the deadline.

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