How Contingencies Can Protect You
Protecting Your Investment
When it comes to buying a home, a lot is at stake. Buying a home is likely to be one of the largest investments you’ll ever make, so it only makes sense to protect your potential purchase.
When you enter into a purchase agreement, you are beginning the process of a legally binding contract. However, the deal isn’t complete until you actually close on the house. This allows you to investigate and ensure the investment is what it seems.
Contingencies allow you the process of due diligence before fully committing to such a large purchase. You may be familiar with some evaluation processes, such as the home appraisal and inspection, but those are just the basics when it comes to protecting your investment.
During our time together, we will discuss several contingency options you can include in your contract agreement, and what actions you can take if standards are not met, which is why I invite you to attend my next webinar, How Contingencies Can Protect You, on Monday, July 20th at 4:00 pm MST.
Learn Which Contingencies Are Right For You!
Contract lingo and terms can be challenging even for the most educated buyer. This is why some states require an estate attorney to review contracts with you. Because you are legally obligated to fulfill your terms of a contract, contingencies essentially give you an out if the house isn’t up to your standards.
Common contingencies include:
-Home Inspection Contingencies
-Mortgage Financing Contingencies
-Sale of Current Home
Contingency options vary by location. For example, if your home is located in an area prone to termite infestation a pest contingency might be beneficial. Contingencies allow you to have the home properly inspected prior to purchase so terms can be negotiated with the seller. Without a contingency, you will likely be responsible to foot the bill for repairs.
Understanding what contingencies to add and which are not necessary will help speed up the buying process. You may think you want every contingency available, however, this probably isn’t necessary. Plus a seller isn’t likely to agree to a contract packed with contingencies. Therefore, it’s important to know which will benefit you the most.
Results Real Estate Team Nick & Annette Martin
Don't Get Stuck with a Money Pit!
All too often people skimp on additional inspections only to find out after moving in there is a major issue with the home. In many cases, issues can be extremely costly to repair. The issues will most likely be problems the previous owners weren’t aware of.
My personal goal for How Contingencies Can Protect You is to teach you how to best protect your investment when it comes to navigating contingencies. Not every contingency will be necessary to ensure the value of your home, while some are costly to ignore. By understanding what options are available, you can decide which are right for you.
During this webinar, we will discuss various aspects of the home buying process, elaborate on different types of contingencies, and explain how each one can be beneficial.
This is the perfect webinar for anyone looking to purchase a home and understand contractual options before entering an agreement with a seller.
All are welcome! Feel free to invite friends or family that may benefit or offer you help through your purchase process as well.
Can’t Wait To Share With You On Monday, July 20th At 4:00 pm MST!