Author Question: What is a contingency? List and describe the contingencies found in the typical agreement of sale? ... (Read 133 times)

Haya94 · **on:** Aug 3, 2018

What is a contingency? List and describe the contingencies found in the typical agreement of sale?

What will be an ideal response?

Question 2

________ are short-term, high interest loans made usually to financially strapped individuals who need an infusion of cash for one reason or another between paychecks.

Fill in the blank(s) with correct word

miss.ashley · **Reply #1 on:** Aug 3, 2018

Answer to Question 1

A contingency is an item that must be satisfied before the sale of the real estate can go
forward. A contingency not satisfied will cause the contract to fail. A mortgage contingency states that the sale will be completed if the buyer is able to obtain a mortgage with particular terms. Sale of another home contingency says that if the buyer is unable to sell another home in order to have the funds to purchase the present property, the agreement is terminated. Many agreements contain an inspection contingency granting the buyer the right to conduct an inspection of the property and give the seller an opportunity to correct any deficiencies or defects.

Answer to Question 2

Payday loans