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What is a Contingency?

  In my last blog I discussed what Pending means in Real Estate and I stated:   Anytime I say Pending, it means the house is under contract. Either with a contingency or not, the house is more than likely going to another buyer. It's just a matter of time until it closes and the new homeowner will be moving in. So what is a contingency?  Well a contingency in a contract is anything that must be first met to allow the sale to continue in the manner in which the contract was written. Most contracts have standard contingencies to include a home inspection, a financial contingency and an appraisal contingency. Other contingencies could include a home sale.  Home Inspection Contingency: This contingency allows the buyer to preform a home inspection (all home inspectors in the state of Virginia must have a license) and the buyer has the opportunity to ask for repairs in order for the contract to move forward. Sellers at this time can a couple of things. Repair all items Repair some it

Kerr Lake, Virginia

We drove the two and a half hours down yesterday for our uncle's ash spreading ceremony. Ted passed away a couple of weeks ago and we gathered for a family get together. His son, Nat played with his band Barrelhouse. We munched on homemade pasta salads, Popeye's chicken and drank margaritas. We then spread Ted's ashes into the lake he loved so dear. We will miss you Ted. 



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