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

Answer by  blahblah (670)

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.

Answer by  PatWilliams (27)

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.

Answer by  Jeff27 (15)

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.

Answer by  hecarlso (196)

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

Answer by  Devin98 (487)

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