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
advertisement
advertisement

Blog

Tara Baukus Mello

New car seat is extra protective for infants

Consumer Reports' study finds that car seats with a foot prop at the base provide 46% more protection from head injury in a crash.  ... Read more


Connect with us