real estate

What is a contingency?

 

What is a contingency?

The Bankrate.com financial term of the day is: "contingency."

An offer on a home can come with a string attached -- called a contingency. It's a condition that will have to be met before the sale can be completed. For example, maybe the home must have a flawless inspection, or maybe the buyer must be approved for a mortgage.

You found a great deal on a home, but will the deal go through? If there's a contingency, the answer is, "It depends."

To shop for the perfect home loan, visit the Mortgage section at Bankrate.com.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
CAR & MONEY NEWSLETTER

Get cost-cutting tips for buying, selling and maintaining your wheels. Delivered monthly.

advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Smartphones preferred over in-car tech

Automakers are spending billions on in-car technology that owners have no interest in using.  ... Read more


Connect with us