search listings
SEARCH LISTINGS

FREDERICK COUNTY MD REAL ESTATE

FREDERICK COUNTY PROPERTY TYPES

ABOUT REAL ESTATE AGENTS IN FREDERICK COUNTY

FINANCING YOUR HOME PURCHASE IN FREDERICK COUNTY, MD

ABOUT THE MARYLAND REAL ESTATE CONTRACT, DISCLOSURES and INSPECTIONS

EDUCATION IN FREDERICK COUNTY

RESOURCES FOR FREDERICK COUNTY BUYERS

lenn harley
Phone: 301-704-6964

Homefinders.com
Broker: Lenn Harley
Lic. MD & VA
MD Lic. 303829

© 2001 Lenn Harley

Active Rain

Frederick County Blog

fair housing

 

WHAT ARE CONTRACT CONTINGENCIES?

A contract contingency is a condition in the contract agreed to by the parties (buyer and seller) that, by a date certain:

The above are just examples of the variety of contingencies that may be used in the Contract of Sale for Frederick County Maryland.

For instance:

The Contract is CONTINGENT until a date certain on the buyer performing a home inspection and providing the seller of notice of any defects. That means the contract is "contingent" on a home inspection.

The Contract may be CONTINGENT on the seller obtaining an attorney review by a date certain. That means the Seller will have an agreed number of days for attorney review.

Your Homefinders.com buyers agent will advise you of the terms of any contingencies to make sure that all duties required by the contingency are performed.

SELF EXECUTING CONTINGENCIES
Homefinders.com uses several contingencies that require the seller to respond by a date/time certain. Otherwise they lose the right to counter or refuse. Our inspection contingency protects our buyers. If you don't like what you see in the home inspection, you can void the contract at that time without requesting repairs or adjustment. That's a powerful right.

Further, once a home inspection is completed and material defects noted by the inspector, the seller, if they refuse to make repairs, will have to notify future buyers of the defect. AND, the seller's agent will be under the same obligation.

While our goal is to get to settlement, it must be noted that when the home inspector notes serious defects in a home, you DO NOT HAVE TO GO THROUGH WITH THE SALE. This is a right not available to buyers in all states.

Once the repair matters have been agreed to, the HOME INSPECTION CONTINGENCY IS SATISFIED.

That's how contingencies work.

horse fence in frederick county

There are many horse ready properties in Frederick County

Frederick County Real Estate
A part of the Homefinders.com Network