How Contingencies Can Impact Your Buying or Selling Experience

Do you know what a contingency is? This is something that is a huge part of the buying and selling process and a lot of people don’t quite understand it. You’ll hear this word thrown around plenty when trying to buy or sell a home, but what does it really mean, and how does it affect your ability to buy or sell your home? In this week’s episode of Selling Central Florida, we are explaining what the word “contingency” means and how these affect your offer in today’s seller's market. It’s very important for you to know what your contingencies are when buying or selling a home so that you can be prepared for whatever happens. Essentially, a contingency is an event or condition that comes into play when closing. For example, a buyer wants to buy your home contingent on the sale of their own house first. There are also contingencies in your offer that may impact your ability to buy or sell your home. There are many things about contingencies that you need to know and the more educated you are on the topic, the better your experience will be. In today’s episode, we discuss: ● What a contingency is ● How your deposit ties into contingencies ● The first two contingencies in your offer ● Finance contingencies that you can waive ● The loan approval period ● Contingencies that you need to pay attention to ● The similarities between deadlines and contingencies Contingencies are important but your understanding of them can make or break your buying or selling experience. We hope this episode helped you better understand what contingencies are and why you need to pay extra close attention to them. They can have a big impact on your experience in the housing market! If you like the show, please subscribe and leave a review. This helps us get more listeners and help more people. You can also follow us on Instagram and send a DM if you want to connect! If you would like to search for available homes in central Florida or check your home value, you can use our services for free at tiffsellsflorida.com and JennaNuñez.bellatraerealty.com. You can also email us at [email protected]! Quotes “Contingencies are in place to protect both the buyer and the seller.” “Everything is negotiable. It’s whatever you as the buyer and seller think is acceptable.”