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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

Labor Day





















Have you ever started a business? Well, that is where my head has been. I am updating quickly photos from Labor Day weekend. Sorry they are late but blogging and real life sometimes don't go hand in hand. I'm not a professional blogger and at this point- very glad I am not.

Comments

  1. Looks like it was a great Labour Day weekend for you! Who doesn't love to enjoy it with friends in such a fun way. Yes I have started my own business and it does take a lot of hard work but it is worth it.

    Rebecca
    http://www.winnipegstyle.ca/Blog/default.cfm

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