6 Common Types Of Home Contingencies for Buyers and Sellers to Know
You've found your dream home and you've put in an offer. It's been accepted. Now begins the exciting and fast-moving period from contract to closing — where a lot of important details remain to be hammered out before your home purchase or sale can be finalized.
Contract contingencies are a common part of the real estate transaction process in Chicagoland, and it is more than likely that your sale will contain one or more contingencies. In short, contingencies in a home purchase contract are clauses that can allow one party or the other back out of the deal, returning the buyer's earnest money, if certain conditions aren't met.
Because they are so common — and can affect a sale in multiple ways — contingencies are an important real estate subject to discuss with your broker at the beginning of the process. Curious what contingencies you might encounter in the Chicagoland market? Here are six of the most common types of home contingencies buyers and sellers should know:



