• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Rachel Gontkovic - Long & Foster Annapolis

Live the Annapolis Lifestyle

  • Home
  • About Us
  • Listings
  • Testimonials
  • Resources
  • Blog
  • Contact
  • Search Homes
  • Home Evaluation

Seller’s Guide to Buyer Contingencies

March 22, 2022 by Rachel Gontkovic

Every news article talks about the fact that it’s a “seller’s market.” This means that if you are selling your home, you’ve probably gotten a few offers from which to choose. While sales price is important, so are the contingencies attached to the offer. Understanding what these contingencies mean can help you choose the best offer from the pack. Here are common contingencies.

Photo by Mari Helin on Unsplash

 

Home Inspection Contingency–This allows the buyer the right of a professional inspection to determine the condition of the home. Generally, this must be performed within a specified number of days and then removed. The inspection will address any safety, fire, and system condition issues.

Appraisal Contingency–A professional appraisal will be ordered to ensure the price offered in the offer is fair market value. If the purchase will be financed, the lender must ensure the home is worth the loan value.

Final Loan Approval Contingency–This contingency protects the buyer in the event they are unable to obtain final loan approval.

Sale of Current Home Contingency – Sometimes a buyer will make an offer on a new home before their current one has sold. This contingency protects the buyer from having to complete the new sale until their home has sold.

Title Contingency–This contingency protects the buyer if the seller does not have the right to sell the home due to unforeseen ownership issues.

Contingencies are part of most real estate contracts. As you review buyers’ offers, make sure to consider both the kind of contingencies and how long before the buyer must remove them. This way, you will choose the offer with the best terms and price.

Filed Under: Ask the Realtor, For Seller Tagged With: annapolis, annapolis homes, annapolis real estate, annapolis realtor, contingencies, contracts, For Sellers, Home Owner, home sales, home selling, homeseller, Rachel Frenstos, real estate, real estate agent, real estate tips, realtor, sell a home, selling a home

More Posts

Three Keys to Selling

Avoid the Rental Trap in 2023

It’s Time to Get the Chimney Ready

December Home Maintenance Checklist

Primary Sidebar

Sign up for my Newsletter

Annapolis Lifestyle

Waterfront homes in Annapolis Maryland

The Blog

Rachel Frentsos writing a blog article

Recent Posts

  • Think Twice Before Waiting for 3% Mortgage Rates
  • Is It Time To Sell Your Second Home?
  • What Experts Are Saying About the 2023 Housing Market
  • Avoid the Rental Trap in 2023
  • 3 Best Practices for Selling Your House This Year

Archives

  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017

Categories

  • Annapolis Lifestyle
  • Ask the Realtor
  • First Time Homebuyers
  • For Buyers
  • For Seller
  • Holiday
  • Home Improvement
  • Home Maintenance
  • Moving Forward with Rachel
  • Resources
  • Uncategorized
January 2023
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Dec    

Footer

Rachel FrentsosRachel Gontkovic (Frentsos)
Realtor

Connect with Me on:

  • Facebook
  • Instagram
  • LinkedIn
Sign up for my Newsletter

Send Rachel a Message

Copyright © 2023 Rachel Gontkovic (Frentsos), Annapolis Fine Homes - All Rights Reserved

Website images by JLowe Photos unless otherwise indicated.

Site design and hosting by Fischer IT Solutions for Business By Barnhill