Snippets home page
 
 
register
 
 
home

Is it true that you must ask for contingencies when buying a house?

asked by Jenniedeelo (99)

You have 50 words left!
 
 
related questions

Could I get in trouble if I have never filed my taxes and am buying a house?

What are a few of the most important considerations when buying a home from parents?

What are questions to ask when looking at an old house?

What can you tell me about buying a house through section 8?

What do I need to be aware of if I am considering buying a house with the bank as the seller?

What do I need to consider when buying a house?

What should you consider when you buy a cheap house?

Tags:  home  real estate

answers

Certain contingencies may be in your best interest, but you are not required to ask for them when you make an offer to purchase a house.

7 votes

It depends on how you are buying the home. Are you paying cash or obtaining financing? If you are financing the home, there are lender required contingencies such as title, appraisal and inspections. Different types of financing such as VA or FHA will require stricter contingencies for inspections and appraisals. You will need clear title for a cash purchase.

6 votes

You would want to include any contingencies or stipulations in your purchase contract. These items are usually addressed in a contract addendum. Your agent can help you with this.

reply
posted by Jeff27 (15)
5 votes

No but it allows you an out if you discover problems with the home after you signed the purchase agreement.

reply
posted by hecarlso (83)
3 votes

No, use contingencies only if you need them. For example: You want a clear home inspection before committing fully to purchase.

reply
posted by Devin98 (245)
2 votes

Report a post on this page as inappropriate
 If you have questions about user content, read our liability disclaimer

  
   
Add your own answer in 50 words or less! Add your comment in 50 words or less!

copyright © 2008
conjecture corporation

FAQ About Us Contact Us Terms & Conditions Privacy Policy