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Buying A Home. Common Contingencies To Purchase Offers

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When making an offer to purchase a home, you might consider making your offer contingent upon certain circumstances. Otherwise, you would be obligated to purchase the home via an enforceable offer even if you discover later that the home wasn’t exactly what you thought. For example, many home buyers offer to purchase the home subject to the following contingencies: Where the home appraises for significantly less than the offered purchase price Where a home inspection reveals serious problems or expensive repairs are needed If you are unable to obtain a mortgage to afford the home If a title search reveals that the property is subject to numerous easements or encumbrances limiting your rights to the property. Being unable to sell your existing Home by a certain date For more information about what contingencies you should include in a purchase offer for a home, contact a real estate attorney who can best advise you of your legal rights.

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