Contingencies in a Real Estate Agreement
Contingency clauses in a real estate contract are clauses put in to allow either the buyer or the seller to walk away from the real estate transaction without penalty if a particular event should happen. They act as escape clauses so that neither a buyer nor seller has to go through with a deal that has become disadvantageous. While many contingency clauses are designed to protect buyers, sellers may include contingency clauses as well.
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