Pennsylvania's New Mortgage Contingency Explained: 3 Options Buyers Must Know | Tom's Take 484

Pennsylvania updated its Agreement of Sale with a new mortgage contingency option, and it's creating confusion for buyers, sellers, and even some real estate agents. In this video, I break down the three mortgage contingency choices—Not Applicable, Waived, and Elected—and explain what each one means for your deposit, financing strategy, and risk exposure. If you're buying or selling a home in Pennsylvania, understanding these contract changes is critical. I'll walk through real-world examples, common mistakes agents make, and how this impacts competitive offers in today's market. Have questions about buying or selling in the Philadelphia suburbs, Main Line, Chester County, Delaware County, or Montgomery County? Reach out to our team!